Singapore Press Holdings has disclosed that it made an indirect investment of US$3.9 million into Coupong back in 2014, for a stake of around 0.1%.
The South Korean company is poised to go for a New York listing with a reported valuation of US$50 billion.
This means SPH’s stake is equivalent to around US$50 million. Given SPH's share base of just over 1.59 billion shares, that's equivalent to 3.14 US cents per share, or 4.18 Singapore cents.
On Feb 26, following earlier media reports of the impending IPO, SPH shares closed at $1.40, up 12 cents, or 9.37%, on heavy volume.
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“SPH is not involved in the management of Coupang nor in the IPO process. The potential IPO of Coupang is not expected to affect the recurring financial performance of SPH,” says the property and media company on Feb 27.
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SPH reminds shareholders to exercise caution when dealing in the shares and to refrain from taking any action in respect of their investments which may be prejudicial to their interests.
“In the event that shareholders wish to deal in the shares of SPH, they should seek their own professional advice and consult with their own stockbrokers,” the company adds.
