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SoftBank Sells Coupang Shares Worth $1B as Vision Fund’s Investments Fall

After selling 50 million Coupang shares for $20.87 each, Softbank still owns 461.2 million.

SoftBank Sells Coupang Shares Worth $1B As Vision Fund’s Investments Fall

According to Reuters, Vision Fund, SoftBank Group’s tech-focused investment arm, has sold US$1 billion worth of shares in South Korean e-commerce business Coupang. This comes after the Japanese company announced a 97% reduction in third-quarter revenue in 2021, with Vision Fund’s returns on investing falling by 92% during the same time.

After selling 50 million Coupang shares for $20.87 each, Softbank still owns 461.2 million. Last year, it sold Coupang stock worth US$1.7 billion at a price of US$29.7 per share. The South Korean competitor to Amazon, founded in 2010, set an IPO record in the United States. As of 2021, Coupang is the market leader in its local market, which is worth US$92 billion.

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