You are here

Japan's Line sets top price for up to US$1.3b IPO

38658738 - 10_06_2016 - LINE-IPO_.jpg
Line Corp set the price for its initial public offering at the top of its marketing range, raising up to US$1.3 billion, a regulatory filing showed on Monday, reflecting robust appetite for the Japanese messaging app firm.

[TOKYO] Line Corp set the price for its initial public offering at the top of its marketing range, raising up to US$1.3 billion, a regulatory filing showed on Monday, reflecting robust appetite for the Japanese messaging app firm.

The company set the IPO price at 3,300 yen per share, compared with its book-building range of 2,900-3,300 yen. It had initially set the range at 2,700-3,200 yen but bumped it up last week. Including an overallotment arrangement, Line will sell up to 132.8 billion yen (S$1.77 billion) of shares.

Line, owned by South Korea's Naver Corp, plans to list in New York on July 14 and in Tokyo the following day.

REUTERS

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes