TOKYO (Reuters) – SoftBank Group’s Vision Fund sold 57 million shares in South Korean e-retailer Coupang Inc for about $1.69 billion, according to a U.S. regulatory filing.
Vision Fund sold 57 million Coupang shares at $29.685 each, and holds 568.2 million shares of the e-commerce firm following the sale, the filing showed https://bit.ly/3ClGkxi.
Coupang declined to comment.
In August, Vision Fund posted a first-quarter profit of 236 billion yen ($2.15 billion).
($1 = 109.8800 yen)
(Reporting by Kanishka Singh in Bengaluru and Tetsushi Kajimoto in Tokyo; Additional reporting by Joyce Lee in Seoul; Editing by Chang-Ran Kim and Shounak Dasgupta)