LINE to file for IPO on Tokyo Stock Exchange
The chat app player is going the initial public offering route that may be worth US$9.85 billionBy Jonathan Toyad 15 Jul, 2014
Update: LINE got back to us. Their official statement is below.
This week has been shaping up to be an IPO-declaring fiesta for companies, hasn’t it? First off, MOL just announced that it will be listed on NASDAQ with US$300 million, and now chat app company LINE Corp. will be applying for an initial public offering on Tokyo Stock Exchange.
According to Reuters and Wall Street Journal, the IPO will be valued at over US$9.85 billion. The company has hired Nomura Holdings Inc. and Morgan Stanley for the same in Tokyo. Not content with that, the company might be going the dual listing route, with considerations on being on the New York Stock Exchange.
LINE has been a busy little beaver of a company as of late. With more than 480 million registered users, one billion in combined downloads, and bringing in a popular Japan-only Disney puzzle title recently for the English-speaking Asian market, going IPO may be a step into possible attempt at chat app world dominance.
e27 has reached out to LINE to further understand this development. And here’s what they had to say:
“LINE, a principal subsidiary of the Company, is evaluating a potential listing in Japan and/or the United States. In connection therewith, LINE has submitted certain documentation, including a listing application, to relevant authorities such as the Tokyo Stock Exchange. However, determinations regarding whether to ultimately list, listing venue and listing timing, etc, have not been made. We will provide an update once such determinations are made or within one month of this disclosure.”