SoftBank Group Offloads Stake Worth $1.7B In Coupang

September 17, 2021 2:20 PM | 1 min read | Make a Comment

SoftBank Group Corp SFTBY SFTBF sold 57 million shares of South Korean e-commerce firm Coupang Inc CPNG at $29.685 per share on September 14, aggregating to $1.69 billion as per regulatory filings.
Coupang's September 14 closing price was $29.87.
SoftBank continues as Coupang's largest shareholder, Bloomberg reports.
SoftBank sold $14 billion worth of listed stocks last quarter, including DoorDash Inc DASH and KE Holdings Inc BEKE, investing the cash into technology startups.
Coupang shares have lost 40.3% year-to-date.
Price Action: CPNG shares traded higher by 1.29% at $29.79 on the last check Friday.