Printed from http://www.electronista.com

Line reportedly files for IPO on Tokyo Stock Exchange worth $9.8B

updated 04:16 pm EDT, Tue July 15, 2014

Trillion-yen Line IPO could include dual listing with New York Stock Exchange

Line Corp has applied for an initial public offering (IPO) on the Tokyo Stock Exchange, according to a rumor. The operator of the messaging service of the same name, owned by Naver of South Korea, is said to have made the request to the exchange two weeks ago, with the company claimed to be valued at over 1 trillion yen ($9.8 billion) by report sources.

Neither company commented to Reuters about the possible IPO, though a person with knowledge of the IPO claims it is being managed by Nomura Holdings and Morgan Stanley in Tokyo. A listing on the New York Stock Exchange is also being considered.



If the rumor is true, the Line IPO directly contrasts with other messaging services being acquired by larger companies over the last year. In February, Facebook announced it was acquiring WhatsApp for a total of $19 billion in cash, shares, and restricted stock units, a purchase that is continuing to receive regulatory attention. A few days before, Japanese retailer Rakuten acquired the Cyprus-based VoIP and messaging service Viber for $900 million.

Line currently earns revenue from users downloading stickers, with its over-450 million users downloading over 480 million sticker packs globally. Full-year sales for last year reached 51.8 billion yen ($509.4 million), while revenue for the first quarter of this year was reported at 14.6 billion yen ($143.6 million), three times that of the same period last year. The company recently expanded into providing fixed-rate VoIP calls to international numbers.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Sound Blaster Roar Bluetooth speaker

There could very well be a new king of the hill for Bluetooth speakers, with Sound Blaster's recent entry into the marketplace. Bringi ...

Kenu Airframe Plus

Simple, stylish and effective, the Kenu Airframe + portable car mount is the latest addition to Kenu's lineup. Released earlier this y ...

Plantronics Rig Surround 7.1 headset

Trying to capture the true soundscape of video games can be a daunting task. Looking to surround-sound home theater options, users hav ...

Sponsor

toggle

Most Commented

 
toggle

Popular News