SoftBank's Vision Fund sold 57 million Coupang shares for $1.69 billion

September 17, 2021 3:03 AM EDT

FILE PHOTO: SoftBank Corp's logo is pictured at a news conference in Tokyo, Japan, February 4, 2021. REUTERS/Kim Kyung-Hoon/File Photo

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

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)

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