COUPANG, THE AMAZON OF SOUTH KOREA, DEBUTS ON NYSE

The biggest IPO in years is rolling out Thursday on the New York Stock Exchange where Coupang, the South Korean equivalent of Amazon in the U.S., or Alibaba in China, will begin trading under the ticker “CPNG.”

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It’s actually the largest initial public offering from an Asian company since Alibaba went public about seven years ago. And it’s the biggest in the U.S. since Uber raised more than $8 billion in 2019.

Coupang has raised about $4.6 billion, outsizing last month’s $2 billion capital raise by the dating app Bumble.

Coupang priced 130 million shares at $35 each, valuing the company at about $60 billion, according to regulatory filings.