Yanolja Co., South Korea’s leading travel and accommodation booking platform operator, may delay its Nasdaq initial public offering plan due to the expected impact of Singapore-based marketplace Qoo10 Pte.’s liquidity crisis on the Korean firm’s key subsidiary.
Yanolja’s travel booking and ticketing arm InterparkTriple Corp. is considering demanding that Qoo10 hand over a 168 billion won ($125.6 million) stake in logistics firm Qxpress Pte., investment banking sources said on Friday.
InterparkTriple signed a deal in April 2023 to sell a 100% stake in Interpark Commerce Corp., an e-commerce and online bookstore operator, to Qoo10.
Under the deal, InterparkTriple received 19 billion won in cash at the time and agreed to receive the remaining 168 billion won in installments by 2026. The Korean firm is yet to receive…
