Does Yanolja Eyes Dual IPO Listing at $4 Billion-Plus Value?


Ella Jones, Deputy Editor In Chief

Date: 02.04.2021

South Korea’s largest travel app Yanolja Co. is in talks with banks to go public through a dual listing in Seoul and overseas, people with knowledge of the matter said, joining a growing cohort of startups seeking higher valuations abroad.

The company is aiming for a value of more than $4 billion, one of the people said, confirming previous reports in Korean media. Yanolja, which is also the world’s largest property management software provider after Oracle Corp., is still exploring options and the size and location of its IPO have not yet been finalized, according to the people, who asked not to be identified as the discussions are private.

Yanolja, founded by janitor Lee Su-jin in 2005 originally as a short-stay hotel-booking service, is hoping to tap resurgent interest in Korea’s tech scene. The move comes after e-commerce champion Coupang Inc.’s successful debut on the New York Stock Exchange this month. Its valuation briefly pushed past $100 billion, affirming a belief at home that going public on bigger markets like the U.S. may produce higher valuations.

“It is true that we are receiving various requests and offers related to an overseas listing,” Yanolja told Bloomberg News in a statement. “As it could be an opportunity to be recognized as a leading company that has capabilities to manage global business operations and solution technologies, we are open to reviewing an overseas listing along with a domestic IPO.”

by Ella Jones | Linkedin

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