POST Online Media Lite Edition


Japanese messaging app Line raises over $1 billion in IPO

Staff Writer |
Japanese messaging-app operator Line priced its dual initial public offering in New York and Tokyo at the top end of its range, raising 115.5 billion yen ($1.14 billion).

Article continues below

Priced at ¥3,300 a share, Line will begin trading in New York on Thursday and in Tokyo on Friday in what is expected to be the largest technology listing so far this year.

In a news release, Line said it took into consideration how demand substantially exceeded the shares it plans to offer in setting its price, which came at the top end of the ¥2,900 to ¥3,300 target range it previously set.

Line is offering 13 million new shares in the first section of the Tokyo Stock Exchange and 22 million shares in the New York Stock Exchange. A further 5.25 million shares will be sold through a “green-shoe” option, which allows for the issuance of additional shares if there is exceptional demand.

The offering could be valued at up to ¥133 billion if all additional shares are sold.

What to read next

Line's IPO values company at up to $6.6 billion
Facebook to buy WhatsApp for $19 billion
Tencent's Ma says Wechat can't compete with WhatsApp or Line