Asia Messaging App Line Weighs IPO

Line, a Japanese smartphone messaging application with 270 million users worldwide, generated buzz over the past year by proving cute Japanese characters can translate into overseas growth. Now, Line Corp., the Tokyo-based developer of the app, is considering an initial public offering.

The company said Friday that it is considering a number of fundraising options, including listing its shares. The Nikkei, a Japanese business newspaper, said earlier Friday that Line could list its shares on the Tokyo Stock Exchange in the summer of next year. Without mentioning how much the company may be looking to raise in an IPO, the paper said that the company could be valued at around Y1 trillion ($10.3 billion), just shy of Twitter’s $11.1 billion.

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