Business
SoftBank reaps $42 billion Coupang windfall as South Korean version of Amazon floats in US sharemarket’s biggest IPO of 2021 – The Australian Financial Review
The South Korean e-commerce giant’s shares opened 81 per cent above their offer price in the US sharemarket’s biggest float this year.
The Japanese conglomerate last month reported third-quarter net profit ballooned more than 20 times thanks to a recovery at the Vision Fund, a huge venture capital operation famous for investing early in Uber and other tech industry start-up successes.
Only a year ago, SoftBank had been smarting from the flopped IPO and collapse in value of office sharing firm WeWork, raising questions over whether chief executive officer Masayoshi Son had lost his midas touch and threatening plans to establish…
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