Line, the Japanese messaging app, is poised to hold one of that country's biggest share sales this year. It is planning an initial public offering (IPO) that could value the company at more than $5 billion. Video published June 10, 2016, by WSJ.com.
Line IPO (June 28, 2016): According to CNBC.com, Line, owned by South Korea's Naver (naver.com), set a tentative range of 2,700 to 3,200 Japanese yen per share, which at the top of the range, could raise 129 billion yen ($1.26 billion) from the sale of as many as 40.25 million shares. That would make the initial public offering (IPO) the largest in the global tech industry this year, and value the company at $6.57 billion. Line plans to list in New York on July 14 and in Tokyo the following day, and has hired Morgan Stanley, Goldman Sachs, JP Morgan and Nomura to manage the listing.
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