Welcome to the MacNN Forums.

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

You are here: MacNN Forums > News > Tech News > Line reportedly files for IPO on Tokyo Stock Exchange worth $9.8B

Line reportedly files for IPO on Tokyo Stock Exchange worth $9.8B
Thread Tools
MacNN Staff
Join Date: Jul 2012
Status: Offline
Reply With Quote
Jul 15, 2014, 05:16 PM
 
Line Corp has applied for an initial public offering (IPO) on the Tokyo Stock Exchange, according to a rumor. The operator of the messaging service of the same name, owned by Naver of South Korea, is said to have made the request to the exchange two weeks ago, with the company claimed to be valued at over 1 trillion yen ($9.8 billion) by report sources.

Neither company commented to Reuters about the possible IPO, though a person with knowledge of the IPO claims it is being managed by Nomura Holdings and Morgan Stanley in Tokyo. A listing on the New York Stock Exchange is also being considered.



If the rumor is true, the Line IPO directly contrasts with other messaging services being acquired by larger companies over the last year. In February, Facebook announced it was acquiring WhatsApp for a total of $19 billion in cash, shares, and restricted stock units, a purchase that is continuing to receive regulatory attention. A few days before, Japanese retailer Rakuten acquired the Cyprus-based VoIP and messaging service Viber for $900 million.

Line currently earns revenue from users downloading stickers, with its over-450 million users downloading over 480 million sticker packs globally. Full-year sales for last year reached 51.8 billion yen ($509.4 million), while revenue for the first quarter of this year was reported at 14.6 billion yen ($143.6 million), three times that of the same period last year. The company recently expanded into providing fixed-rate VoIP calls to international numbers.
     
   
Thread Tools
Forum Links
Forum Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Top
Privacy Policy
All times are GMT -4. The time now is 11:12 PM.
All contents of these forums © 1995-2015 MacNN. All rights reserved.
Branding + Design: www.gesamtbild.com
vBulletin v.3.8.8 © 2000-2015, Jelsoft Enterprises Ltd., Content Relevant URLs by vBSEO 3.3.2