Singapore Press Holdings (“SPH”) rallied by almost 10% in a single day on 26th Feb 2021 (Friday) when news of its investee e-commerce company, Coupang, is seeking an IPO worth US$50 billion dollars on the New York Stock Exchange was made known. SPH had invested US$3.9Mil in 2014 into Coupang. In 2015, Softbank also invested into Coupang and valued it then at US$5 billion. Based on this high-level analysis, this means that the valuation has increased by at least 10 times and SPH valuation of its investment stake in Coupang will grow from US$3.9Mil to a valuation of at least US$39Mil which is a cool gain of US$35 Mil in 7 years.

If we look at the recent announcement on 27th Feb 2021 which states that SPH stake in Coupang is approximately 0.1%, then this translates to a valuation of US$50Mil. This exceptional gain in 2021 is no doubt a material contribution to its upcoming financial