IPO of LINE
The offering price of Line, a mobile messenger company of Naver was set at 3,300 yen per share. Line will receive IPO subscription from July 12 to 13 after making a public disclosure of its IPO at the Tokyo Stock Exchange. The company will list its stocks at the New York Stock Exchange on July 14 and the Tokyo Stock Exchange on July 15.
This offering price is the highest in the offering price range of Line. Line set the offering price range at 2,700 yen to 3,200 yen on June 28. But on July 4, considering demand and market situations, the range was raised to 2,900 yen to 3,300.
Line will issue 35 million shares through this IPO. If the company issues excess allotment options, they can raise up to 133 billion yen. Some stock market experts say that Line’s high offering price is a reflected advantage as there will be no big IPOs in the stock market except that of Line.
According to foreign news wire services, the market capitalization of Line is estimated at 693 billion yen, one of the highest IPOs of IT companies around the world.