Cooley guides Coupang to one of the biggest listings of all time

Cooley guides Coupang to one of the biggest listings of all time

The $4.55 billion IPO is the largest of the year in the US and one of the 25 biggest listings of all times based on deal size

The US-based global law firm Cooley LLP has advised Coupang, one of Asia's largest e-commerce companies, on its $4.55 billion initial public offerings (IPO).

The Coupang IPO consisted of 130 million shares of Class A common stock, including 30 million shares sold by selling stockholders. Besides, Cooley also advised Coupang on its $1 billion credit line by a syndicate of lenders.

Cooley announced on 11 March 2021 about this major development. The $4.55 billion IPO is the largest of the year in the US and one of the 25 biggest listings of all times based on deal size.

Lawyers Eric Jensen, Calise Cheng and Natalie Karam led the global Cooley team advising Coupang on its IPO. Patrick Flanagan led the Cooley team advising on the credit line.

Goldman Sachs, Allen & Company, J.P. Morgan and Citigroup acted as lead book-running managers for the offering. HSBC, Deutsche Bank Securities, UBS Investment Bank, Mizuho Securities and CLSA acted as book runners.

Coupang, whose securities now trade on the New York Stock Exchange under the symbol "CPNG," is a South Korean e-commerce company incorporated in the US. It offers a variety of services, including the delivery of groceries and general merchandise, prepared foods through Coupang Eat and video streaming through Coupang Play.

The company was founded in 2010 and has offices in Beijing, Los Angeles, Seattle, Seoul, Singapore, Shanghai and Silicon Valley.

Cooley, a 100-tear-old law firm, specialises in advising its clients on transformative deals, complex IP and regulatory matters besides high-stakes litigation, through its team of over 1,100 lawyers and 16 offices spread across the US, Asia and Europe.