Massive profit: People walk by a SoftBank shop in Tokyo. The bank’s Vision Fund, which built up its 37% stake in Coupang for US$2.7bil, is today staring at a US$50bil target valuation for the South Korean e-tailer. ─ AP
TOKYO: SoftBank’s US$100bil Vision Fund is poised to have a new number-one asset in its portfolio with the upcoming flotation of top South Korean e-tailer Coupang, furthering a turnaround that has seen the fund yo-yo from huge losses to record profit.
The US$50bil target valuation that Reuters reported this month would likely see the decade-old firm surpass recently listed United States food deliverer DoorDash Inc on a roster of assets that also includes stakes in TikTok parent ByteDance and ride-hailers Grab and Didi.
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