Coupang, Inc. announces an Equity Buyback for 10,000,000 shares, for $177.9 million.
April 06, 2024 at 01:29 am IST
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Coupang, Inc. (NYSE:CPNG) announces a share repurchase program. Under the program, the company will repurchase up to 10,000,000 shares, for $177.9 million, at an average price of $17.79 per share. The shares will be repurchased from Maverick Holdings C, L.P.
Coupang, Inc. owns and operates a retail business, which primarily serves the Korean retail market. Through its mobile applications and Internet websites, it offers products and services that span a range of categories, including home goods and decor, apparel and beauty products, fresh food and grocery, sporting goods, electronics, everyday consumables, travel, restaurant order and delivery, content streaming, and advertising. Its Product Commerce segment primarily includes core Korean retail (owned inventory) and marketplace offerings and Rocket Fresh, its fresh grocery offering, as well as advertising products associated with these offerings. Its Developing Offerings segment primarily includes more nascent offerings and services, including Coupang Eats, its restaurant ordering and delivery service in Korea, Coupang Play, its online content streaming service in Korea, fintech, its retail operations in Taiwan, as well as advertising products associated with these offerings.
COUPANG, INC. 
