Ja­panese mes­sag­ing app Line says still con­sid­er­ing IPO

The China Post - - MARKETS -

Pop­u­lar Ja­panese mes­sag­ing app Line said Fri­day it was still con­sid­er­ing plans for an ini­tial public of­fer­ing, af­ter a re­port said it had shelved the sale for a sec­ond year in a row.

Line’s owner, South Korean In­ter­net firm Naver, was pre­par­ing an IPO for the com­pany in 2014, but re­port­edly post­poned it to fo­cus on the mes­sag­ing app’s ex­pan­sion.

It was later re­ported that Line shares could start trad­ing in Ja­pan — and pos­si­bly New York — as early as this sum­mer in a deal that could value it at more than US$8 bil­lion.

But the Wall Street Jour­nal on Thurs­day cited un­named sources as say­ing that Line had de­layed the plan again un­til at least next year.

Re­spond­ing to the re­port, Tokyo-based Line said it was still mulling a sale.

“Our com­pany has never can­celed plans for an IPO — we’re still in the re­view process,” a spokes­woman told AFP.

The 2014 sale plan was put off due to dis­agree­ments be­tween Line and its par­ent com­pany over de­tails of the list­ing, lo­cal media said.

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