Line IPO seen to raise US$1b in biggest tech listing
But sceptical fund managers highlight tepid growth in the Japanese messaging app company's home market and doubts about its prospects for regional expansion
Mon, Jun 27, 2016 - 5:50 AM
The bulk of Line's revenue comes from games and sales of emojis and electronic stickers, including Brown the bear and Cony, his flatulent rabbit girlfriend.
IN delaying its initial public offering (IPO) by two years, Japanese messaging app company Line Corp bought time to correct weak financial reporting controls, work on its business plan, bolster staffing - and left billions of dollars on the table as its valuation shrivelled.