Messaging app Line files for IPO valued upwards of $10B


Posted at Jul 15 2014 04:59 PM | Updated as of Jul 16 2014 04:24 PM

TOKYO - Japanese messaging app operator Line Corp applied for an initial public offering (IPO) valued at upwards of 1 trillion yen ($9.85 billion) around two weeks ago at the Tokyo Stock Exchange, a person with knowledge of the matter said.

Line, owned by South Korea's Naver Corp, has tapped investment bank Nomura Holdings Inc to manage the IPO, the person said, adding that the company is considering a dual listing in Tokyo and New York.

Line has grown rapidly to claim popularity in Asia and Latin America with more than 480 million downloads globally.