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South Korea's Coupang raises $4.6bn in New York stock listing

SoftBank-backed e-commerce company makes largest US IPO since Alibaba

Coupang’s fulfillment center in Chilgok, South Korea. The company is conducting an initial public offering in New York on March 11. (Photo by Jean Chung) 

SEOUL -- Coupang is raising $4.55 billion in its listing on the New York Stock Exchange, the biggest initial public offering by a foreign company in the U.S. since Alibaba Group Holding in 2014.

South Korea's largest e-commerce company confirmed that it is offering 130 million shares at $35 per share, above the range of $32 to $34 it indicated in a stock exchange filing earlier in the week. The shares will start trading on Thursday.

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