Softbank invests $ 1.7 billion in Yanolja prior to IPO

Softbank invests $ 1.7 billion in Yanolja prior to IPO


SoftBank Group Corp. Vision Fund II has invested approximately $ 1.7 billion in Yanolja Co., providing additional capital to South Korea’s largest travel app prior to its initial public offering.

Seoul-based startups said they plan to use the money to expand geographically and drive efforts to bring digital technology to the travel and hospitality industry. According to people familiar with the deal, the deal will raise Yanoja’s valuation to more than 10 trillion won ($ 9 billion). The company declined to comment on the latest valuations and shares it will acquire from SoftBank.

Masayoshi Son, the founder of Softbank, has expanded his investment in South Korea. This is Coupang Inc. Is a strategy that was rewarded when Korea succeeded in Korea’s largest IPO in more than 10 years. The e-commerce giant helped Softbank make the highest profits ever for Japanese companies in May, paving the way for the wave of Korean startup debut from PUBG developer Krafton to KakaoPay.

“Korea could be one of the many markets that are diversifying SoftBank’s geographic exposure,” said Ansiarai, an analyst at Bloomberg Intelligence. “Advances in mobile connectivity in this country will definitely help strengthen SVF’s investment treatises.”

Yanolja investor SBI Investment Korea Co. shares surged 13% in Seoul and another investor AJU IB Investment Co. rose 5.3%.

Originally founded in 2005 by former motel manager Lee Soo Jin as a short-stay hotel reservation service, Yanoraja hopes to draw attention to the resurgence of South Korea’s high-tech scene. SoftBank Vision Fund has invested $ 2.7 billion in Coupang, and the value of its shares increased more than 10-fold to $ 28 billion at the end of March after the IPO.

Bloomberg News reported that Yanoja is considering a dual listing in Seoul and abroad. In November, Mirae Asset Securities announced that it had been selected as a lead arranger and Samsung Securities as a co-underwriter, aiming to release this year. The startup, the world’s largest asset management software provider after Oracle, is still exploring options, and the size and location of its IPO has yet to be determined.

With the support of Singapore’s sovereign wealth funds GICPte and Booking Holdings Inc., Yanolja is expanding its business to include leisure activities and transportation in addition to hotel reservations. With the acquisition of India’s accommodation management platform eZee Technosys in 2019, the startup now states that it is the world’s largest cloud-based hotel management solution provider. Despite the blockade of COVID-19, sales in 2020 increased by 44%, reporting a profit of 16.1 billion won.

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Nikkei falls below 29,000 prior to the emergence of a new virus …

Nikkei falls below 29,000 prior to the emergence of a new virus …


Stock prices on the Tokyo Stock Exchange continued to plummet on Wednesday prior to the imminent declaration of a new coronavirus state of emergency in some parts of the country, with the Nikkei 225 benchmark averaging 29,000 for the first time in about four weeks. It was below the threshold.

The Nikkei Stock Average 225 stocks plunged 591.83 points (2.03%) to close at 28,508.55, falling below 29,000 for the first time since March 25. Tuesday’s key index fell 584.99 points.

The Tokyo Stock Price Index in question in all the first sections fell 38.07 points (1.98%) to 1,888.18 after falling 30.31 points the day before.

Investors rushed to sell from the beginning as expectations for Prime Minister Yoshihide Suga to issue a state of emergency in Tokyo, Osaka and Hyogo soon.

According to brokers, the third urgent declaration could prevent the Japanese economy from recovering early from the coronavirus crisis.

Emotions were also chilled by continued sales on Wall Street following the expansion of Washington on the list of countries advised by US citizens not to travel.

Nikkei lost 680 points at one point early in the afternoon. However, the market showed some resilience and later leveled off amid a lack of new trading incentives.

“Investors no longer believe that Japan is better at dealing with pandemics than the United States and European countries, primarily because vaccines are much slower to deploy,” said Maki Sawada, a strategist at Nomura Securities. Stated.

The negative impact of news related to the revival of the coronavirus on the market was “doubled by the heightened wait-and-see mood before the start of the full-scale earnings season next week,” said Masayuki Otani, chief market analyst at Securities Japan. He said. , OK.

In the first section of the TSE, 31 issues were unchanged, but the rejecters overwhelmed the winners from 2,028 to 132. Volume increased from 1,087 million shares on Tuesday to 1,262 million shares.

Rakuten plunged 5.55% in media reports that cyber mall operators will be monitored by the US and Japanese governments due to the acquisition of a major stake by China’s Tencent Group.

Toshiba has extended its losing streak to its fourth session on negative news about the buyout offer of UK investment fund CVC Capital Partners.

As the state of emergency approaches, department store operators, restaurant chains and other face-to-face service providers have moved south.

On the other hand, the SoftBank Group increased 1.03% due to the strong earnings outlook for the fiscal year ending March.

In index futures trading on the Osaka Exchange, the Nikkei 225 June major contract fell 600 points to close at 28,540.

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