Brexit forces delay upon Japanese WhatsApp rival Line’s IPO pricing

Line is Japan's biggest messaging service

Line Corp has delayed putting a price on its initial public offering (IPO) by a day (until Tuesday) blaming the "market environment" which is still turbulent after the UK’s referendum to leave the EU came out on top last week.

The company will announce the price range for its listings in New York, 14 July, and Tokyo 15 July, according to Reuters.

The service, which is Japan’s most popular messaging service, will look to raise $1.1bn from the sale of both new and existing shares when it finally floats on the market.

However, the Brexit has shaken up the markets seeing Japan’s Nikkei drop by 7.9 per cent.

The app boasts around 218 million users, distributed across Japan, Taiwan and Thailand.

The Drum touched down with top marketers and industries to see what the Brexit means for them, check that out here.

Get The Drum Newsletter

Build your marketing knowledge by choosing from daily news bulletins or a weekly special.