weareliferuiner

  • Home
  • TECH
    • APP
    • APP REVIEW
    • GADGETS
    • IOS
    • MAC
    • SMARTPHONE
  • COMMUNICATION
  • LIFESTYLE
    • BEAUTY
    • FAMILY
    • FESTIVAL
    • FITNESS
    • FOOD & DRINK
    • HEALTH
  • MONEY
  • Chocolate
  • PRODUCTIVITY
  • NEWS
  • Contact Us !
Reading: Japan’s Line Prices IPO at Top of the Range, May Raise Up to $1.3 Billion
Share
Aa
Aa
weareliferuinerweareliferuiner
Search
  • Home
  • TECH
    • APP
    • APP REVIEW
    • GADGETS
    • IOS
    • MAC
    • SMARTPHONE
  • COMMUNICATION
  • LIFESTYLE
    • BEAUTY
    • FAMILY
    • FESTIVAL
    • FITNESS
    • FOOD & DRINK
    • HEALTH
  • MONEY
  • Chocolate
  • PRODUCTIVITY
  • NEWS
  • Contact Us !
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
weareliferuiner > TECH > APP > Japan’s Line Prices IPO at Top of the Range, May Raise Up to $1.3 Billion
APP

Japan’s Line Prices IPO at Top of the Range, May Raise Up to $1.3 Billion

sristy
Last updated: 2016/07/30 at 4:26 PM
By sristy 2 Min Read
Share
SHARE

Japan's Line Prices IPO at Top of the Range, May Raise Up to $1.3 Billion

Japanese messaging app firm Line Corp priced its initial public offering at the top of its marketed range, putting it on track to raise as much as $1.3 billion (roughly Rs. 8,722 crores) and reflecting robust appetite for the world’s biggest tech listing this year.

Line set the IPO price at JPY 3,300 per share, compared with its book-building range of JPY 2,900-3,300, a filing with Japan’s finance ministry showed on Monday.

It had initially set the range at JPY 2,700-3,200 but bumped it up last week amid buoyant demand.

Line, owned by South Korea’s Naver Corp, is set for a dual New York and Tokyo listing this week, raising funds and boosting its profile to ratchet up its global expansion outside its key markets of Japan and Southeast Asia.

“This is seen as an event by many domestic retail investors. I think the price will rise in the short term,” said Mitsushige Akino, executive officer at Ichiyoshi Asset Management.

But he added that investors will also need to look at whether the company increases profits in the long term.

Including an overallotment arrangement, Line is selling up to JPY 132.8 billion ($1.3 billion) of shares. The IPO pricing values the company at JPY 693 billion ($6.9 billion).

Line’s messaging app was launched in the aftermath of Japan’s 2011 earthquake and tsunami to overcome downed communications, growing unexpectedly to become the country’s dominant mobile messaging platform over the next few years.

The bulk of its revenue comes from games and sales of emojis and electronic stickers.

Line will debut on the New York Stock Exchange on Thursday and on the Tokyo Stock Exchange the following day.

Morgan Stanley, Goldman Sachs, JP Morgan and Nomura are managing the listing.

© Thomson Reuters 2016

Tags: Apps, IPO, Japan, Line, Social
[“Source-Gadgets”]
TAGGED: $1.3, at, Billion, IPO, Japan's, line, May, of, prices, raise, Range, the, to, top, up
sristy July 30, 2016
Previous Article Facebook Messenger to Get ‘Secret Conversations’ With End-to-End Encryption
Next Article F-Secure Suggests How You Can ‘Uncensor’ Your Facebook News Feed

Latest News

Due to the second wave of COVID-19
SMARTPHONE
Back to basics: How simple fitness outperforms every trend
FITNESS
Vivo T4 Pro Teased to Launch in India Soon; to Be Available on Flipkart
GADGETS
Explained: How the govt is planning to evaluate students’ fitness in schools
FITNESS
Doctors shouldn’t be allowed to object to medical care
HEALTH
How do I begin? Wellness and Fitness for Busy Women: A Guide
LIFESTYLE
Color options and design for the Samsung Galaxy S25 FE 5G mobile device have been teased ahead of launch
SMARTPHONE
The Truth about Protein
LIFESTYLE

Removed from reading list

Undo

Lost your password?