The company also plan to file registration with the New York Stock Exchange
LINE Corporation today announced that the Tokyo Stock Exchange (TSE) has approved the company’s new listing of shares of common stock.
The company expects the listing of its shares on the TSE to occur on or around July 15 (local time), subject to approvals by relevant authorities, the declaration of registration effectiveness and the completion of other necessary procedures, as well as market conditions.
LINE Corp. also announced its plans to file a registration statement on Form F-1 with the US Securities and
Exchange Commission (SEC) on June 10 (local time) for a proposed initial public offering in the New York Stock Exchange (NYSE).
The listing on NYSE is expected to occur on or around July 14.
The company cited ‘to further enhance its strong position in Asia and to continue a more active global expansion’ as the main purpose of their decision to go public in US and Japan.
The Wall Street Journal reported that the IPO “is one of the biggest … in Japan this year”, also stating that TSE is setting up a share sale that could raise more than US$900 million and value the company at more than US$5 billion.
LINE has a total of 218 million users at the end of March in Japan, Taiwan, Thailand, and Indonesia.
Though its revenue is reported to have grown steadily, it has struggled to increase the number of its users and to expand beyond a handful of other markets.
More on this story as it develops.
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