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Last Done 1.880
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Volume 2,128.3
Range 1.870 - 1.900

SPH, family office could see strong returns from US$50b Coupang IPO

27 Feb 2021 09:00

By Sharanya Pillai

TWO Singapore-based investors of South Korean e-commerce firm Coupang - Singapore Press Holdings (SPH) and the family office of Trafigura's Asia-Pacific chief Tan Chin Hwee - could see strong returns on their investment if the SoftBank-backed firm goes through with its planned US$50 billion initial public offering (IPO).

SPH, which publishes The Business Times, invested an undisclosed sum in Coupang in mid-2014 through a special purpose vehicle.

Mr Tan, who is also an independent director at SPH, is understood to have backed Coupang in its early years. He declined to disclose when and how much he invested.

According to past media reports, Coupang was valued at US$5 billion in June 2015, after SoftBank agreed to invest US$1 billion into it.

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Source: Business Times

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