Messaging app Line will listing its shares in Tokyo and big apple, reviews stated Friday, in what could be one of the year’s largest initial public services.
jap media, along with the Nikkei commercial enterprise daily and Kyodo information business enterprise, stated the Tokyo-primarily based company changed into set to win approval from regulators Friday to go public as early as subsequent month.
jap reviews stated Line, which is owned by South Korean internet company Naver, plans to raise about JPY one hundred billion ($933 million or more or less Rs. 6,237 crores) in a sale that would fee the business enterprise at around JPY 600 billion.
Bloomberg news cited unnamed resources as announcing the sale ought to raise among $1 billion and $2 billion (more or less Rs. thirteen,370 crores), in what it said may be the arena’s largest tech IPO this year.
Neither Line nor the Tokyo stock alternate could confirm the reports, however a supply near the scenario informed AFP that a deal was likely to be introduced later Friday.
“it is authentic that a board assembly approximately Line’s IPO is happening (in Tokyo),” stated the supply, who asked anonymity.
“Naver wants to push via with the IPO so the possibilities of the board now not approving the sale is pretty low.”
Line has already confirmed it has submitted listing documents to jap and US marketplace regulators.
The said sale comes two years after Line to begin with introduced plans to listing its stocks. The sale changed into later shelved.
The presenting could be the biggest in Tokyo for the reason that Japan post made its long-awaited buying and selling debut in November with an IPO that crowned $eleven.five billion (kind of Rs. seventy six,873 crores).
The famous app lets users make loose calls, ship immediate messages, and put up pix or short films, along side a host of other paid-offerings. It combines attributes from fb, Skype and WhatsApp.
The firm’s messaging service was launched in 2011 after the quake-tsunami tragedy damaged telecoms infrastructure national, forcing body of workers to resort to online resources to communicate.
best known for letting users send every other lovable caricature “stickers”, Line is hugely famous in Japan, in particular amongst teens.
The app – which claims to have more than 200 million monthly lively users – has a robust presence in Asian markets inclusive of Thailand, Taiwan and Indonesia, in addition to some Spanish-speaking areas, consisting of Spain and Mexico.
however the corporation has been trying to enlarge in larger markets, including the usa.