Line to elevate up to $1.05 Billion in twin IPO in Tokyo, the big apple

Line to Raise Up to $1.05 Billion in Dual IPO in Tokyo, New York
jap messaging app operator Line Corp on Friday stated it plans to listing stocks really worth as a whole lot as $1.05 billion in Tokyo and the big apple subsequent month, in what might be Japan’s largest initial public offering (IPO) this yr.

The Tokyo-situated firm stated it might promote 13 million new stocks in Japan and 22 million shares foreign places for an indicative fee of JPY 2,800 each.

that would value the entire business enterprise at 588 billion JPY ($five.five billion).

Line is currently a hundred percent owned by way of South Korea’s largest web portal operator, Naver Corp, which may additionally provide as many as five.25 million current shares in the event of immoderate demand.

Altogether, as many as forty.25 million stocks might be sold, valuing the IPO at as a whole lot as JPY 112.7 billion.

Line stated it plans to use the proceeds for strategic investments which includes worldwide mergers and acquisitions, and to repay debt.

Line launched its messaging app in 2011 under the call NHN Japan as a verbal exchange device precipitated by means of the chaotic aftermath of a devastating earthquake and tsunami in March that yr. It rebranded to Line in 2013.

Its IPO would be the largest in Japan since the $12 billion partial privatisation of Japan publish and its bank and coverage divisions in November.

Line has hired Morgan Stanley, Goldman Sachs, JPMorgan and Nomura to control the IPO.