Line prices IPO, could raise up to USD 1.3 bln

Nieuws Mobiel Wereld 11 JUL 2016
Line prices IPO, could raise up to USD 1.3 bln

Line said it will sell 35 million shares for its initial public offering (IPO), setting the price at JPY 3,300 per share. It will also offer a greenshoe of 5.25 million, taking the total raised to JPY 132.8 billion (USD 1.3 billion). At the IPO price, the company is valued at about USD 6.9 billion and will be the biggest technology debut of the year, Bloomberg reported.

The shares will begin trading in New York on 14 July and in Tokyo the next day. The company’s New York traded stock was priced at USD 32.84, with Line selling 25.3 million shares in the US, including the greenshoe. Nomura, JPMorgan Chase & Co, Morgan Stanley and Goldman Sachs are the lead underwriters.

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Mobiel

Companies:

Morgan Stanley,  Line

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Wereld

Tags:

Corporate strategy, Financial funding

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