Line is hoping to raise USD 1 billion in its initial public offering (IPO) in July, Bloomberg reported, citing a company filing. Line will sell shares in the US and Japan at a valuation of about JPY 588 billion. The offering is for 35 million new and existing shares, with an over-allotment of 5.25 million shares. The price range will be set on 27 June, and the final price on 11 July, the company said.
Line, owned by South Korean search portal Naver, initially filed for an IPO in 2014 at a target valuation of JPY 1 trillion but held off as it waited for market conditions to improve. Nomura, JPMorgan Chase & Co, Morgan Stanley and Goldman Sachs are the lead underwriters.
