Jienem, a residential hospitality company, has selected Kyobo Securities as its representative manager to prepare for an initial public offering (IPO).
Established in 2014, Jienem has developed online and offline guesthouse reservation brokerage, franchise, and consignment operation businesses. It succeeded in pivoting as a residential hospitality business in 2021 and currently operates lifestyle accommodation brand ‘Y Collection’ and franchise hotels ‘The Leaf’ and ‘Unboundi.’
Jienem is expanding its business by launching Y Collection Stay, a mid- to long-term lodging platform specializing in high-end residences. It is also participating in the construction of a senior town and smart city for the silver generation. In the first half of this year, it plans to launch ‘GO:YO’, a life care service platform targeting the 50s and 70s age group’.
Last year, Jienem recorded a sales increase of over 700% compared to the previous year and achieved operating profit surplus. This year, the company aims to maintain 20 billion won in sales and a net profit surplus. To achieve this, Jienem has completed human resources expansion and fund transfusion in preparation for an IPO.
Jinam CEO Lee Jun-ho said, “Starting with the selection of the host company, we plan to gradually lay the groundwork for future listing preparations through a strategic approach.”
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