Japan-based Message App Line Applies for an IPO.
As of recently, rumors have been circulating around about Japanese messaging application Line listing itself publicly, with various reports and estimation prepping the firm’s valuation between $10-30 billion. And now, the Wall Street Journal has reportedly confirmed that Line has applied for an IPO with the Tokyo Stock Exchange.
The WSJ stated that this deal is expected to amount over more than 1 trillion yen ($9.8 billion), which would be one of Japan’s largest stock offering this year. Interestingly enough, the news report also mentions that Line shall most likley to apply for a listing on the New York Stock Exchange as well, going for a double listing. The company is stated to go public as early as this autmn, depending on the approval from both stock exchanges.
We’ve tried reaching out for a Line Spokesperson, but unfortunately we’ve gotten no reply so far, we’ll update once responded too.
It’s not that much of a surprise that Line has decided to make this recent grand move. Its been leading a line of successes recently and has some upcoming plans that shall continue to maintain its pedestal if not expand it even further then before. With its recent announcement of wanted to continue its expansion into the US once again for example. Along with its interesting creative artist sticker market and lines of games, its no wonder it continues to remain successful.
Line has a total of 450 million registered user. As of recently, its line-up of 63 applications have garnered over 1 billion downloads, while its latest earning for the first quarter of 2014 saw it generated a total sales of ver 14.6 billion yen ($143 million).