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Commercial Fitness Equipment Market Overview The Commercial Fitness Equipment Market report provides a
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(Bloomberg) - South Korean e-commerce giant Coupang IncOn track to be the largest listing by a Korean company in a decade And like most major technology offerings these days, it is happening in New York City, there are three big reasons that explain why the US. is a better choice for the e-tailer, backed by SoftBank Group Corp.Masayoshi son Perhaps most significant is that New York offers a sizeable valuation premium. It also has a deeper, more liquid market, and allows for unequal voting rights, one of which is Coupang's founder, who Harvard Business School dropout, Bom Kim, would benefit from the US was the go-to destination for mega-tech IPOs with the biggest debuts in 2020, Airbnb Inc and DoorDash Inc both listed in New York Chinese e-commerce giants like Alibaba Group Holding Ltd and JDcom Inc went public there too Coupang plans to collect up to US $ 36 billion in the IPO and could be worth more than US $ 50 billion, making it the largest float by a Korean company since the insurance group's IPO by the Samsung Group 2010 Had the loss-making e-commerce company listed in Korea - unprofitable companies could go public this month - Coupang would have had a maximum valuation of just $ 10 billion, according to Suh YongGu, a marketing professor at Sookmyung University "The history of capitalism in South Korea is short, so Koreans don't attribute high valuations to loss-making companies," Suh ​​said. The South Korean stock market is less than 70 years old and dominated by chaebols or family-run industrial groups. In fact, SK Bioscience Co, a unit of SK Group, one of the county's largest chaebols, will be listed on the stock exchange no later than this month.The manufacturer of AstraZeneca PLC's Covid-19 vaccine for Korea plans to raise $ 1, according to the Korean-language Seoul Economic Daily Monday it was 3 billion before the listing on Jan. However, the appetite of Korean investors for their domestic, entrepreneur-led startups will grow in the coming months with Krafton Inc.'s initial public offering, creator of hit game PUBG, and the country's largest mobile-only bank, Kakao Bank.Unlike Coupang, these firms are profitable, Coupang has lost money in the past three years, posting a cumulative deficit of $ 412 billion as of December after its filing However, thanks to the surge in online shopping during the pandemic, it managed to almost double its sales to $ 12 billion last year, a valuation of $ 51 billion would make Coupang one of the top five most valuable companies in Korea, of which Samsung Electronics Co is the largest of Korea's other big e-commerce startups - $ 58 billion internet conglomerate Naver Corp.and the $ 39 billion messaging app Kakao Corp. - are both listed in Seoul but were both profitable when they went public The two are entrepreneur-backed and not affiliated with chaebols like Samsung GroupS. will allow it to surpass the combined market value of the six Chaebol-owned retailers looking to expand their presence in e-commerce - E-Mart Inc, Lotte Shopping Co, GS Retail Co, Shinsegae Inc, BGF Retail Coand Hyundai Department Store CoLiquidity is another attraction of the US. Market so that companies can frequently raise funds by selling secondary stocks. Korea's stock market, valued at $ 212 trillion, is a fraction of the U's $ 442 trillionS.According to Bloomberg data, "It is easier for investors to leave their shares in the U" Ssaid Seo Sang-Young, an analyst at Kiwoom Securities in Seoul, "And the trading volume is much bigger. And finally, a US. Listing Gives Founders More Power Korea doesn't allow unequal voting rights held by tech companies like Alphabet Inc and Facebook Incwho see it as a way for founders to focus long term But the US. does this even if the ownership structure itself is not undisputed, as it lacks the protection of shareholders. Kim, Coupang's 42-year-old founder, will end up with 767% of the company's voting rights with only 102% of its outstanding shares. that Coupang will be listed in Korea, "said Kim Sung-gon, a spokesman for the Korea Stock Exchange" But we respect the company's choice "Korea IPO Boom Year begins with Coupang FloatStill and missed the chance to join one of the hottest companies in the country Participate in the largest Asian IPO since Alibaba Group Holding Ltd. The 2014 New York listing, valued at $ 25 billion, ranks the retail investors who have dominated the Korean stock market since the pandemic spread. "Retail investors certainly regret they haven't participate in the IPO, "said Kim DongJoo, CEO of Iruda Discretionary Investment, a Seoul-based investmen Biggest IPOs by Korean Companies: Coupang prides itself on same-day, or at least before dawn, deliveriesProvided a total of $ 90 million in inventory to 000 full-time delivery drivers prior to the IPO This is a unique event that occurs at a time when the death of a number of couriers due to congestion due to the surge in online orders leads to a surge in national turmoil "We believe we are the first company in Korea to do the Makes our frontline people shareholders, "Kim said in a letter to shareholders on Coupang's IPO (updates with details on SK Bioscience's Korean IPO in paragraph six). More articles like this can be found on bloombergcomSubscribe now to join in with stay ahead of the most trusted business news source © 2021 Bloomberg LP.
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