Line sets IPO range at JPY 2,700-3,200 per share

News Wireless Global 28 JUN 2016
Line sets IPO range at JPY 2,700-3,200 per share

Japanese mobile messaging provider Japanese Line has set its price range for an initial public offering (IPO) in Tokyo and New York next month at JPY 2,700-3,200 (USD 26.50-31.50) per share, the Wall Street Journal reported. The IPO could raise up to JPY 112 billion, making it the biggest technology listing so far this year.

Line is offering 13 million new shares to the public in Japan on 15 July and an additional 22 million new shares in New York on 14 July, with a greenshoe of 5.25 million more shares. At the top end of the price range, the offering could be valued at up to JPY 129 billion, if all additional shares are sold. The range gives Line a valuation of 20-24 times price to earnings, a source familiar with the matter said.

The final price will be set on 11 July. Line had previously set an indicative price of JPY 2,800 for its shares. The IPO is set to launch two years after the company first submitted an application to list on the Tokyo Stock Exchange as part of an offering that had been expected to value it at more than USD 10 billion. However, Line postponed the offering and then scrapped plans to list in 2015.

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Mobile

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Line

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Messaging, IT - applications, Corporate strategy, Financial funding

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