Yanolja's Nasdaq IPO plan hit by Qoo10's liquidity turmoil

Quick Summary:

Yanolja’s travel booking and ticketing arm InterparkTriple Corp.is considering demanding Qoo10 to hand over 168 billion won ($125.6 million) worth of stake in logistics firm Qxpress Pte., investment banking sources said on Friday.

If the financial investors lower Qxpress value to recover their principal, it will impact InterparkTriple’s plan to receive Qxpress stake as the Korean firm has to recognize an accounting loss on the decreased value of Qxpress.

With Qxpress' value much lower than three years ago, the financial investors' goal has turned to the recovery of their principal by converting the bonds into equity and selling the stake to new strategic investors, according to sources.

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Article Details

Category: Economy

Markets: South KoreaSingapore

Topics: Qoo10 Plan Korean Investors Interparktriple Stake Value Qxpress Financial Equity Billion

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-23 @ 21:23:16 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 386 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 22228164

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