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SoftBank Group sells $1.7bn of shares in South Korea's Coupang

Vision Fund cashes in on some of its lucrative investment in e-commerce company

Coupang has been a moneymaker for SoftBank Group's Vision Fund, but business difficulties and scandals have sent the South Korean company's share price plunging.    © Yonhap/Kyodo

TOKYO/SEOUL -- SoftBank Group's Vision Fund sold $1.7 billion in shares of South Korean e-commerce company Coupang, cashing in on one of the fund's most lucrative investments.

SVF Investments, a unit of SoftBank, said in a filing on Thursday to the U.S. Securities and Exchange Commission that it had sold a total of 57 million shares in Coupang at $29.7 per share. The transaction was on Tuesday, according to the filing. But SVF still owns 568.2 million shares in Coupang after the sale.

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