Another day brings another pubic debut of a multibillion dollar company that performed well out of the gate.
This time it’s Coupang, whose shares are currently up just over 46% to more than $51 after pricing at $35, $1 above the South Korean e-commerce giant’s IPO price range. Raising one’s range and then pricing above it only to see the public markets take the new equity higher is somewhat par for the course when it comes to the most successful recent debuts, to which we can add Coupang.
The company’s mix of rapid growth and slimming deficits appear to have …
