Line mulls IPO in US, Japan: Media Report
04/06/2014 17:14
The popular messaging app, Line, owned by Asia's Naver Corp, is preparing an initial public offering in the United States and Tokyo as soon as November, said the media report. The company was working on the IPO with Morgan Stanley and Nomura Holdings, the report said. The app, popular in Japan and one of the world's largest with some 450 million users, could command a valuation of more than USD 10 billion, the sources said. Line has not yet decided on a stock exchange, the size of an IPO or which investment banks would underwrite the offering, Bloomberg said. Investor interest in mobile messaging apps has grown in the wake of Facebook's record USD 19 billion acquisition of WhatsApp, which pushed up industry valuations and cast a spotlight on the rapidly expanding market.
04/06/2014 17:14
The popular messaging app, Line, owned by Asia's Naver Corp, is preparing an initial public offering in the United States and Tokyo as soon as November, said the media report. The company was working on the IPO with Morgan Stanley and Nomura Holdings, the report said. The app, popular in Japan and one of the world's largest with some 450 million users, could command a valuation of more than USD 10 billion, the sources said. Line has not yet decided on a stock exchange, the size of an IPO or which investment banks would underwrite the offering, Bloomberg said. Investor interest in mobile messaging apps has grown in the wake of Facebook's record USD 19 billion acquisition of WhatsApp, which pushed up industry valuations and cast a spotlight on the rapidly expanding market.
