Messaging App Line Set for Listing in Tokyo, New York: Reports

Advertisement
By Agence France-Presse | Updated: 10 June 2016 10:53 IST
Highlights
  • Line plans to raise about JPY 100 billion.
  • It has submitted listing documents to Japanese & US market regulators.
  • It combines attributes from Facebook, Skype and WhatsApp.
Messaging App Line Set for Listing in Tokyo, New York: Reports

Messaging app Line will list its shares in Tokyo and New York, reports said Friday, in what could be one of the year's biggest initial public offerings.

Japanese media, including the Nikkei business daily and Kyodo news agency, said the Tokyo-based firm was set to win approval from regulators Friday to go public as early as next month.

Japanese reports said Line, which is owned by South Korean Internet provider Naver, plans to raise about JPY 100 billion ($933 million or roughly Rs. 6,237 crores) in a sale that would value the company at around JPY 600 billion.

Bloomberg News cited unnamed sources as saying the sale could raise between $1 billion and $2 billion (roughly Rs. 13,370 crores), in what it said could be the world's biggest tech IPO this year.

Advertisement

Neither Line nor the Tokyo Stock Exchange would confirm the reports, but a source close to the situation told AFP that a deal was likely to be announced later Friday.

"It's true that a board meeting about Line's IPO is happening (in Tokyo)," said the source, who requested anonymity.

Advertisement

"Naver wants to push through with the IPO so the chances of the board not approving the sale is quite low."

Line has already confirmed it has submitted listing documents to Japanese and US market regulators.

Advertisement

The reported sale comes two years after Line initially announced plans to list its shares. The sale was later shelved.

The offering would be the biggest in Tokyo since Japan Post made its long-awaited trading debut in November with an IPO that topped $11.5 billion (roughly Rs. 76,873 crores).

The popular app lets users make free calls, send instant messages, and post photos or short videos, along with a host of other paid-services. It combines attributes from Facebook, Skype and WhatsApp.

The firm's messaging service was launched in 2011 after the quake-tsunami tragedy damaged telecoms infrastructure nationwide, forcing staff to resort to online resources to communicate.

Best known for letting users send each other cute cartoon "stickers", Line is hugely popular in Japan, particularly among teenagers.

The app - which claims to have more than 200 million monthly active users - has a strong presence in Asian markets such as Thailand, Taiwan and Indonesia, as well as some Spanish-speaking areas, including Spain and Mexico.

But the company has been looking to expand in bigger markets, such as the United States.

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Advertisement

Related Stories

Popular Mobile Brands
  1. iPhone 17 Might Offer the Screen Upgrade We've Been Waiting For
  2. Motorola Launches G86, G86 Power, and G56 With These Specifications
  1. Kedarnath Yatra Helicopter Booking Online Scam: Uttarakhand Police STF Reportedly Cracks Down on Cybercriminals
  2. Microsoft's Xbox Handheld Plans Reportedly Shelved; Company to Optimise Windows 11 Gaming Performance
  3. Disney+ Expands Subscriber Perks, Including Movie Premieres
  4. Google, DOJ to Make Final Push in US Search Antitrust Case
  5. Realme GT 7, Realme GT 7T With 7,000mAh Batteries Go on Sale in India: Price, Specifications, Sale Offers
  6. Vivo T4 Ultra Launch in India Teased; Company Hints at Periscope Telephoto Camera With 100x Zoom
  7. Perplexity Labs Launched With Ability to Generate Spreadsheets, Reports and Create Web Apps
  8. Oppo Find N5 Flip Reportedly in Development, Schematics Hint at Updated Design With New Camera Layout
  9. Vivo TWS Air 3 With Spatial Audio, Up to 45-Hour Battery Life Launched: Price, Specifications
  10. iPhone 17 Said to Feature Larger Screen With Long-Awaited Refresh Rate Upgrade
Gadgets 360 is available in
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2025. All rights reserved.