Japanese messaging app LINE is reportedly planning to go for an IPO, though for now company has denied any such rumor and issued statement saying, that it will be considering various possibilities for business expansion including listing but no concrete decisions has been made yet.
Last week TheNextWeb had reported that the company was preparing for an IPO which would value LINE at around USD 28 Bn, but yesterday the Nikkei which is a Japanese news publication, had stated that it is expected to go public in 2014 on the Tokyo Stock Exchange.
Without mentioning how much the company may be looking to raise in an IPO, the publication has said that the IPO would value the company at around USD 8 Bn to USD 10 Bn.
While a report on Reuters says that the company might consider listing its share in Tokyo or in New York or Hong Kong, as listing overseas would offer better access to venture capital and a way to boost its global name recognition.
According to a source, “They need to be compared with global competitors such as Facebook and Twitter, not small domestic companies… It is getting saturated here in Japan, so they must be thinking of going abroad.”
It also says that it might go for a dual listing.
LINE currently has 270 Mn registered users worldwide, with Japan being the clear stronghold with 48 Mn users, as per the Serkan Toto.
The company is expected to use the raised capital to develop new apps and to intensify advertising.
LINE was launched back in 2011 by Narvel Corp and it competes with other messaging apps like Whatsapp, WeChat, Viber etc.
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