SoftBank-Backed Travel App Klook Is Said to Consider US Listing
Save
Klook, a travel and leisure booking platform, is exploring an initial public offering in the US that may raise as much as $500 million, according to people with knowledge of the matter.
The company, which is backed by investors such as SoftBank Group Corp. and Goldman Sachs Group Inc., is working with financial advisers on the planned first-time share sale, said the people, asking not to be identified as the process is private. Klook may confidentially file an application in the US soon, the people said. An IPO could raise from $300 million to $500 million, they said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 minutes ago
- Yahoo
Trade war: Aston Martin outlines plan to beat US tariff hit as profits sink
Aston Martin Lagonda has revealed a plan to bring forward production at the beginning of next year as it looks to swerve a worse hit from US trade tariffs. The UK luxury carmaker said it was lobbying the UK government to improve the terms of its trade deal with Donald Trump. The company explained that, as things stand, it would have to ship more cars earlier than planned next year if it was to ease the threat to its sales and bottom line posed by the quota element of the agreement. Auto manufacturers had initially faced down a tariff above 25% from April. Money latest: Since 30 June, that US import duty rate fell to 10% but it only applies to the first 100,000 UK-made cars which enter the US on an annual basis. Aston said on Wednesday that the tariff chaos, coupled with weaker demand in China, meant adjusted operating profits for the year would roughly break even. It had previously forecast a positive result. The company, best-known for its models' starring role in the majority of James Bond movies, issued the annual profit warning followed a temporary halt to US exports amid the tariff chaos. It resumed shipments last month. The United States and China account for its top two export markets. It has not been alone in issuing a warning to investors over the anticipated pressures on sales. Aston Martin boss Adrian Hallmark described demand in China, where consumers are feeling the pinch, as "stagnant" in a call with analysts. "The evolving and disruptive US tariff situation was unhelpful to our operations in Q2," he said. Aston said it was reviewing its supply chain to reduce possible negative impacts such as disruption to demand and distribution. It reported a 25% plunge in revenue to £454.4m in the six months to 30 June compared to the same period last year. Its core profit measure was in the red to the tune of £121.5m. That was 22% up on a £99.8m loss. Mr Hallmark said the financial performance also reflected fewer planned deliveries of its Specials models. The company is preparing for the first customer deliveries of Valhalla, its first mid-engine plug-in hybrid electric supercar. That is expected in the final quarter of the year. Shares have lost almost a third of their value in the year to date and were 5% down on Wednesday morning.
Yahoo
18 minutes ago
- Yahoo
Q3 TRADING UPDATE FOR THE THREE MONTHS ENDED 30 JUNE 2025: HBX GROUP
LONDON, July 30, 2025 /PRNewswire/ -- HBX Group ( a leading independent B2B travel technology company, today issues a Q3 trading update for the three months ended 30 June 2025. Revenue of €182m, up 3% (6% constant currency) in Q3, 9-month revenue of €501m, up 7% (8% constant currency) showing robust growth Delivering strategic growth with Civitfun acquisition and expansion of The Luxurist into new markets and its integration into the Group's retail platform, Bedsonline Mid to high single-digit TTV growth and mid-single-digit revenue growth now expected for the full year and Adj EBITDA guidance narrowed, reflecting the current market environment and currency impacts Trading performance summary €m Q3 2025 Q3 2024 Change Constant currency change 9m 2025 9m 2024 Change Constant currency change TTV (total transaction value) 2,176 2,063 5 % 8 % 5,546 5,086 9 % 10 % Group revenue 182 177 3 % 6 % 501 468 7 % 8 % Revenue by destination €m Q3 2025 Q3 2024 Change 9m 2025 9m 2024 ChangeSpain 25 24 4 %56 51 10 %Rest of Europe 73 75 (3) %171 161 6 %US 29 30 (3) %92 92 0 %Rest of Americas 23 20 15 %72 68 6 %MEAPAC(1) 32 28 14 %110 96 15 %(1) Middle East and Asia Pacific Consolidated unaudited revenue for the 3-month period 1 April 2025 to 30 June 2025 and 9-month period 1 October 2024 to 30 June 2025 Resilient growth and commercial progress Group revenue of €182m was up 3% (6% in constant currency) in the third quarter compared to the prior period. The later timing of Easter contributed approximately 1% point to growth in the quarter. For the 9-month period ended 30 June 2025, Group revenue grew 7% (8% constant currency). This resilient performance showed the importance of scale and geographic diversification in a challenging market with changes in travel corridors and traveller booking trends in reaction to geopolitical events. TTV (total transaction value) growth was 5% in Q3 (8% constant currency), slightly ahead of revenue growth, in line with the trends experienced in the first half of the year. Growth in Accommodation was mostly driven by volumes, with room nights growing faster than average daily rates (ADRs). This reflected deeper discounting in some markets where demand weakened as well as a change in the geographic mix of activity and currency movements. Actions were taken early in the quarter to capture revenue growth, including targeted geographic expansion, cross-selling and bundling of ancillary products, as well as investment in new products and tactical pricing actions. These actions helped HBX Group outperform the global hotel market[i] in Q3, with 8% constant currency TTV growth well ahead of the 5% market growth. Outlook After a strong start to the year, delivering 12% TTV growth and 10% revenue growth in the first half, trading deteriorated in Q3 impacted by disruption in the macroeconomic and geopolitical environments as well as the translational impact of a weaker US dollar. Reflecting these market-wide challenges and the actions we have taken, we now expect to deliver mid-to-high single-digit TTV growth and mid-single digit revenue growth converting into Adjusted EBITDA growth of at least high-single digit for the full year. Our cash conversion guidance is unchanged at c.100%. We have a clear expansion strategy to use our scalable technology and global B2B network to capture future market growth opportunities and drive profitable growth as the environment stabilises. Our mid-term outlook is unchanged. For the full press release and disclaimer applicable to this information, please visit About HBX Group HBX Group is a leading global B2B TravelTech company that owns and operates Hotelbeds, Bedsonline, Roiback and The Luxurist, among other brands. We offer a network of interconnected travel tech products and services to partners such as Online Marketplaces, Tour Operators, Travel Advisers, Airlines and Loyalty Programmes, destinations and travel suppliers. Our vision is to simplify the complex and fragmented travel industry through a combination of cloud-based technology solutions, curated data, and an extensive portfolio of products designed to maximise revenue. HBX Group is present in 170 countries and employs more than 3600 people around the globe. We are committed to making travel a force for good, creating a positive social and environmental impact. Logo: View original content to download multimedia: SOURCE HBX Group Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNET
20 minutes ago
- CNET
4 Money Moves You Must Make Today
Make the most of the Fed's upcoming decision by doing these things ASAP. Deagreez/Getty Images Today's Federal Reserve meeting may not be on your radar, especially with the headlines full of economic turmoil. But the Fed's actions have real consequences for your money, and knowing how to prepare can help you reap the rewards -- and minimize your losses. Since the central bank is expected to hold interest rates steady at its July 29-30 meeting, savings (and borrowing) rates should stay high for the time being. But policymakers may start cutting rates as early as September. The sooner you make these key moves with your money, the better the position you could put yourself in financially. Read more: The Clock's Ticking for Your Sweet Savings Rate. Here's What Could Happen if the Fed Cuts Rates This Fall Make these 4 money moves now Make the most of the Fed's upcoming decision by doing these things ASAP. 🤑 Lock in a high APY with a certificate of deposit CDs are unique deposit accounts that come in terms ranging from a few months to several years. You need to leave your money in the CD for the entire term to avoid early withdrawal penalties. In exchange, the bank or credit union pays you a fixed return based on the interest rate in effect when you open the CD. Some of the best CDs today offer annual percentage yields of up to 4.5%. Because the Fed is expected to cut rates in the fall, locking in a higher APY now can protect your future earnings if rates drop. Though banks tend to follow the Fed's lead when setting CD rates, APYs have already started falling and will likely drop more in the fall. "Knowing the Fed would like to get two interest rate cuts in before the end of the year, I would anticipate both CDs and savings accounts to begin offering less interest in the near term," said Dana Menard, CFP and lead financial planner at Twin Cities Wealth Strategies. "If you do not need to access the funds, I would lock in the higher rates being offered today." 💰 Take advantage of elevated savings rates while you still can A CD is a great home for money you don't plan to spend right away. But what about your emergency savings? You'll want to keep those savings liquid while still earning the most interest you can on them. High-yield savings accounts, often provided by online banks, offer far better returns than traditional savings options available at major banks. The best savings accounts pay at least 10 times the national average savings rate. Although there may be withdrawal limits, you can continue adding money to your high-yield savings account and keep your funds accessible when you need them. The interest rates on high-yield savings accounts are variable, which means they tend to fall when the central bank makes interest rate reductions. "We've already seen some of the top offers come and go," said Taylor Kovar, certified financial planner and CEO of 11 Financial. "Most banks probably won't raise rates unless the Fed gives them a reason to. So what we're seeing now is probably as good as it's going to get for a while." 🛑 Press pause on big purchases If you're thinking about financing a new car or other large purchase, consider waiting until the Fed begins cutting rates again to avoid high interest charges. If you're in the market for a new home, you should know that borrowing rates for home loans are expected to stay high. Mortgage rates are only indirectly related to the Fed's monetary policy, and experts don't expect this year's interest rate adjustments to bring them down significantly. 💳 Prioritize paying down debt Paying down your credit cards and other high-interest debt is a good move in any rate environment but especially while interest rates remain high. High-interest debt can hamper your financial stability. When you owe a large amount of interest on credit or loans, that money is no longer free for savings, investments or daily expenses. You may want to consider a debt consolidation loan to combine your outstanding debt at a lower interest rate. Search for a reputable lender you're interested in working with so you can apply when interest rates get cut later this year. It's time to get strategic with your money You can't control what the Fed does with interest rates, but you can take some smart financial steps to make the most of its decisions.
