Yanolja to List on US Stock Market in July... Corporate Value of 12 Trillion Won
Domestic travel platform company Yanolja is reportedly planning to go public on the U.S. stock market as early as next month.
Bloomberg reported on the 7th (local time), citing sources familiar with the matter, that "Yanolja plans to hold an initial public offering (IPO) in the United States as early as July," adding, "The company aims to raise approximately $400 million (about 550 billion KRW) through the listing."
Yanolja is said to be seeking a valuation of $7 billion to $9 billion (about 9.6 trillion KRW to 12.3 trillion KRW). The report stated that Goldman Sachs and Morgan Stanley are expected to serve as the lead underwriters for the IPO.
Yanolja is expanding its business globally. Last year, it hired Alexandre Ibrahim, a former executive at the New York Stock Exchange (NYSE), as its Chief Financial Officer (CFO). To expand its business in North America, it established its 50th overseas office in Manhattan, New York, in March.
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Currently, Yanolja's largest shareholder is SoftBank Vision Fund II, led by Chairman Son Jeong-ui, which invested approximately $1.7 billion in 2021.
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