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Valued at $5.5 billion, LINE to IPO in New York and Tokyo on mid-July

Valued at $5.5 billion, LINE to IPO in New York and Tokyo on mid-July

Following its investor roadshows, we've finally got the details for mobile messaging outfit LINE's IPO.

According to the Financial Services Agency, the joint New York and Tokyo listing is scheduled for 14 July in the US and 15 July in Japan.

LINE is looking to raise $917 million with an initial share price of $26.21, which would value the company at $5.5 billion.

What's next

In comparison to WhatsApp and Facebook's Messenger, LINE's recent user growth hasn't been strong.

It has 218 million MAUs, but as a game platform in Japan and southeast Asia with titles such as LINE Tsum Tsum, it continues to generate high revenues.

App Annie listed LINE as having over $1 billion in game and app revenues in 2015.

Other new services it hopes will generate sales include music streaming, chatbots and payment system Line Pay.


Intern

Jammy since birth, but not so much playing video games, Borja will rant if you let him. His two hobbies, games and travelling, are only compatible through mobile gaming.

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