[Featured Stocks] Ajou IB Investment and SBI Investment Hit 52-Week High on Yanolja's Nasdaq Listing Expectations

AJU IB Investment and SBI Investment have reached a 52-week high. This appears to be influenced by the imminent direct listing of their investee company, Yanolja, on the US Nasdaq.

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As of 9:05 AM on the 10th, AJU IB Investment is trading at 3,540 KRW, up 11.32% (360 KRW) from the previous close. On the 7th, it hit an intraday high of 3,400 KRW, surpassing the 52-week high of 3,140 KRW recorded on the 21st of last month, continuing its upward trend. SBI Investment is trading at 1,154 KRW, up 23.69%.

Yanolja is pursuing an initial public offering (IPO) in the US stock market this year. Recently, the US economic media outlet Bloomberg reported that "Yanolja plans to raise $400 million through the listing." Yanolja is known to be aiming for a corporate valuation of $7 billion to $9 billion. The lead underwriters for the listing are Goldman Sachs and Morgan Stanley. To facilitate the listing, Yanolja established a local corporation in Delaware, USA, in February, and in March, it set up an overseas branch in Manhattan, New York.

The largest shareholder of Yanolja is Japan's SoftBank Vision Fund 2, holding a 24.9% stake. AJU IB Investment also invested approximately 20 billion KRW in Yanolja in 2017. Around the same time, SBI Investment invested 6 billion KRW and subsequently added another 10 billion KRW.

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