Line could raise $1.3bn when it goes public

Line could raise $1.3bn when it IPOs

LLine has set the price of its IPO at 3,330 yen per share, meaning it could raise as much as $1.3bn when it goes public.

According to Channel NewsAsia this lies at the top end of an amended pricing range, as the company bumped up its original suggestion of 2,700-3,200 yen to 2,900-3,300 yen in a filing with the Japanese finance ministry last week.

The setting of the higher price and the amendment to its original range was a response to demand, with many suggesting that the IPO could be one of the biggest tech listings this year.

The mobile messaging app is hugely popular in its native Japan, as well as many countries in Southeast Asia. Line has said that it will used the money raised to fund greater expansion overseas.

The global race to become the de facto messaging app is becoming harder, with Facebook ramping up the features in its messaging app, as well as China’s WeChat gaining notoriety for its success at creating its own ecosystem.

Line also has apps that work within and off its ecosystem, such as a Snapchat rivaling selfie app earlier this year, but makes the majority on in-app purchased on items such as stickers, games and emojis.

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