Kaylene Hong was Asia Reporter for The Next Web between 2013 and 2014, based in Singapore. She is bilingual in English and Mandarin. Stay in Kaylene Hong was Asia Reporter for The Next Web between 2013 and 2014, based in Singapore. She is bilingual in English and Mandarin. Stay in touch via Twitter or Google+.
UPDATE: Line has just confirmed to TNW that it has submitted a listing application to the Tokyo Stock Exchange, but plans for the venue of its IPO still haven’t been finalized, and more details will only be revealed a month later. Here’s the statement Line sent to us:
LINE, a principal subsidiary of the Company, is evaluating a potential listing in Japan and/or the United States. In connection therewith, LINE has submitted certain documentation, including a listing application, to relevant authorities such as the Tokyo Stock Exchange. However, determinations regarding whether to ultimately list, listing venue and listing timing, etc, have not been made. We will provide an update once such determinations are made or within one month of this disclosure.
Our original story is as follows.
Rumors that Japanese messaging app Line would list publicly started circulating since last year, with various reports and estimations pegging the firm’s valuation between $10-30 billion. Now the Wall Street Journal reports that Line has applied for an IPO on the Tokyo Stock Exchange.
WSJ says the deal is expected to be worth more than 1 trillion yen ($9.8 billion), which would be one of Japan’s largest stock offerings this year. Interestingly, the newspaper also says that Line will likely apply for a listing on the New York Stock Exchange too, making for a dual listing. The company is said to go public as early as this autumn, depending on the approval from both stock exchanges.
A Line spokesperson told TNW that the company has no comment on the matter at this moment in time.
Line has over 450 million registered users. Recently, its family of 63 apps chalked up over 1 billion downloads, while its latest earnings for the first quarter of 2014 saw it generating total sales of 14.6 billion yen ($143 million).
➤ Line Applies to List on Tokyo Stock Exchange [Wall Street Journal]
Don’t miss – Chat app Line is planning a major push into the US, focusing on games
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