Yanolja, a comprehensive leisure platform company, is fully engaged in the IPO process. The goal is to request a preliminary examination for listing in the first half of the year and complete the listing within this year. The securities industry sees Yanolja’s corporate value up to 5 trillion won.
According to the investment banking (IB) industry on the 26th, Yanolja is preparing for an IPO with the aim of a preliminary claim for the second quarter. In the securities industry, Yanolja is highly likely to be listed on the KOSDAQ market by utilizing the requirements for listing non-profit companies (Tesla requirements), which lowers the listing threshold for deficit companies. An official at a securities company said, “I know that Yanolja is considering listing Tesla requirements as a top priority.” However, Yanolja said, “The listing method has not been confirmed yet.”
The ransom price goes up and down between 3 trillion and 5 trillion won depending on the calculation. The average market capitalization of online travel platform (OTA) industries, such as Booking.com (Booking Holdings) and Airbnb, is 10 times higher than sales (PSR). Yanolja sales were 121.3 billion won in 2018 and 245 billion won in 2019. Since 2017, sales have doubled annually (average annual growth rate of 112%). The deficit narrowed from 16.8 billion won in 2018 to 11.0 billion won in 2019.
Last year’s sales were not disclosed, but the industry estimates that it would have exceeded 300 billion won. Applying the sales growth from 2018 to 2019, it is likely to increase to 500 billion won. It is also positive that domestic travel demand increased due to the Corona 19 situation last year. The company estimates last year’s transaction amount to be around 2 trillion won.
In the past, it was recognized as a’motel app’, but recently, it is changing into a’super app’ that allows you to reserve and use a variety of areas from restaurants, railroads, rental cars, and leisure facilities with one app. 40% of all employees are research and development (R&D) personnel. Particularly, the field of work is hotel asset management system (PMS) such as room reservation, check-in/check-out, room management, and accounting. Yanolja is the second largest PMS provider in the world after Oracle in the US. This is the result of acquiring India’s Easy Technosys, Korea’s Garam, Cereal, and affiliated information technology in order from 2019. It has 27,000 hotels around the world as customers.
In the stock market, Yanolza’s comparative company is Airbnb, a shared accommodation platform. Airbnb’s corporate value, which had sales of $4.7 billion in 2019 (about 5.3 trillion won), soared to $86.5 billion (about 100 trillion won) on the first day of listing on NASDAQ at the end of last year.
Reporter Kim Jong-woo [email protected]
Ⓒ Hankyung.com prohibits unauthorized reproduction and redistribution