SoftBank Sells $1.69 Billion of Coupang as Son Unloads Assets
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SoftBank Group Corp. sold about $1.69 billion worth of its stake in Coupang Inc., the South Korean e-commerce giant whose stock surged and then tumbled after its initial public offering in March.
SoftBank sold 57 million shares at $29.685 on Sept. 14, the company said in a statement to the U.S. Securities and Exchange Commission. The Japanese company is still Coupang’s largest shareholder.