[Alpha Biz= Reporter Kim Sangjin] On the 10th, SBI Investment's stock surged by over 8%. This uptick came following news that Yanolja, a travel platform company, is planning an initial public offering (IPO) on the US stock market, causing its major shareholder, SBI Investment, to exhibit strength.
According to the Korea Exchange, on that day, SBI Investment closed at 1,008 won, up 75 won (8.04%) from the previous trading day.
The stock opened at 1,026 won, up 9.97% from the previous day. At one point during the trading session, it reached a 52-week high of 1,170 won, up 25.40%.
The surge in SBI Investment's stock price is attributed to reports of Yanolja's plans for a US stock market listing. SBI Investment has invested approximately 160 billion won in Yanolja.
According to Bloomberg reports on the 7th, Yanolja is planning to list on the US stock market as early as next month, aiming to raise $400 million (approximately 550 billion won).
In the market, Goldman Sachs and Morgan Stanley are reportedly serving as lead underwriters for Yanolja's IPO, with the company seeking a valuation of $7 billion to $9 billion (approximately 9.66 trillion to 12.42 trillion won).
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
