Markets

Biggest tech IPO since Alibaba: Japan's LINE sets terms for $928 million IPO

LINE, a Japanese application for instant messaging on smartphones and PCs, filed and set terms for its IPO on Friday.

The Tokyo, Japan-based company plans to raise $928 million by offering 35 million shares at a price range of $25 to $28. At the midpoint of the proposed range, it would command a fully diluted market value of $6.1 billion. LINE plans to dual list on the NYSE under the symbol LN and on the Tokyo Stock Exchange under the code 3938, but did not disclose how many shares would be offered on each.

The full deal size of $928 million represents the largest US tech IPO since Alibaba ( BABA ) raised $22 billion in September 2014.

LINE was founded in 2011 and booked $1.1 billion in sales for the 12 months ended March 31, 2016. Morgan Stanley, Goldman Sachs, J.P. Morgan and Nomura Securities are the joint bookrunners on the deal.

The article Biggest tech IPO since Alibaba: Japan's LINE sets terms for $928 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

BABA

Other Topics

IPOs

Latest Markets Videos

    Renaissance Capital

    Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products.

    Learn More