Deals
Japan’s Line Seeking to Raise as Much as $1 Billion in IPO
- Messaging service on track for this year’s biggest tech debut
- Naver-owned company to list in New York and Tokyo in July
Japan's Line Said to Reveal IPO Details
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Line Corp. is aiming to raise as much as 113 billion yen ($1 billion) in an initial public offering in July, putting Japan’s most popular mobile-messaging service on track to become this year’s biggest market debut for a technology company.
Line will sell shares in the U.S. and Japan at a valuation of about 588 billion yen, according to data from a filing Friday. The offering is for 35 million new and existing shares, with an over-allotment of 5.25 million shares. The price range will be set on June 27, and the final price on July 11, the Tokyo-based company said.