San Francisco – March 11, 2021 – Cooley advised Coupang, one of Asia’s largest ecommerce companies, on its $4.55 billion initial public offering of 130 million shares of Class A common stock, including 30 million shares sold by selling stockholders. In addition, Cooley advised Coupang on its $1 billion credit line by a syndicate of lenders. Lawyers Eric Jensen, Calise Cheng and Natalie Karam led the global Cooley team advising Coupang on its IPO, which is the biggest IPO in the US this year and one of the top 25 listings of all time based on deal size. Patrick Flanagan led the Cooley team advising on the credit line.
Goldman Sachs, Allen & Company, J.P. Morgan and Citigroup acted as lead book-running managers for the offering. HSBC, Deutsche Bank Securities, UBS Investment Bank, Mizuho Securities and CLSA acted as bookrunners.
Coupang, whose securities now trade on the New York Stock Exchange under the symbol “CPNG,” offers a variety of services, including same-day and next-morning delivery of groceries and general merchandise, delivery of prepared foods through Coupang Eat and video streaming through Coupang Play. The company was founded in 2010 and has offices in Beijing, Los Angeles, Seattle, Seoul, Singapore, Shanghai and Silicon Valley.
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"Cooley-Led Korean E-Commerce Giant Delivers $4.6B IPO" – Law360