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Biz News Korea(Eng)
Ticket Monster with plans to spin off travel business courts funding
- Collected
- 2017.08.22
- Distributed
- 2017.08.23
- Source
- Go Direct
According to Ticket Monster on Sunday, the company plans to spin off its travel business TMON TOUR and offer around 30 percent stake to institutional investors.
“We have been approached with the idea from investors several months ago and are in talks with them,” said an unnamed official from Ticket Monster.
The details on the spinoff and stake offered for sale have not been decided, he said.
Ticket Monster hopes to expand travel business to ensure predominance in the burgeoning online travel agency market.
TMON TOUR that was launched in 2012 reported 25 percent growth in sales over the last two years. It secured 17 million subscribers.
Still, Ticket Monster last year reported an operating loss of 155.1 billion won ($136 million).
By Oh Chan-jong
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]