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Leisure platform Yanolja to be listed on NASDAQ

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Masayoshi Son, Chief Executive Officer of SoftBank, is expected to invest $870 million in Yanolja, a Korean accommodation and entertainment platform.

The Financial Times (FT) reported on the 9th (local time) that SoftBank’s “Vision Fund,” led by chairman Son, plans to purchase $870 million worth of shares, or 10% of Yanolja’s stake. Shares will be purchased when Yanolja’s IPO takes place.

As well, the FT predicted Yanolja, which is planning an IPO for this year, would look for a U.S. listing. It was decided to list on the NASDAQ rather than in Korea in order to attract investments from the global Vision Fund. In its preparation to go public, Yanolja hired Mirae Asset Daewoo and Samsung Securities as underwriters.

In the event that the deal goes through, SoftBank will make the second-largest investment in Korea after its US$3 billion investment in Coupang, Korea’s largest e-commerce company.

Singapore’s sovereign wealth fund invested $180 million in Yanolja in 2019.

Since its launch in 2005, Yanolja has rapidly expanded its business as a travel agency, a hotel tech provider, and a hotel operator, achieving $168 million in revenues in 2020 despite Corona travel restrictions.

For MetaNews.

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Jonathan Hobbs

Jonathan Hobbs is an Australian investor and author that trades on a variety of asset classes, including currencies, equities, and commodities. Jonathan’s experience as a macro trader leverages his unique writing style to combine important elements, such as technical analysis and news. The other elements that he brings into his unique writing styles are foundation analysis aimed at rational equilibrium values, evaluating the sizes and motivations of buyers and sellers, as well as identifying the needs of the buyers and sellers in the individual markets. Jonathan is committed to quality writing for new traders as well as veterans.

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