NEW YORK -- South Korean e-commerce giant Coupang soared 81% at the start of trading on the New York Stock Exchange Thursday after an initial public offering that sold $4.6 billion worth of shares.
The Seoul-based company opened at $63.50 apiece, almost double its $35.00 price tag at IPO, which already exceeded the previously marked price range. Shares fell back to $49.25 at market close, valuing the company at over $80 billion.
