June 3 The popular messaging app, Line, owned by
Asia's Naver Corp, is preparing an initial public
offering in the United States and Tokyo as soon as November,
Bloomberg reported Tuesday, citing people who were familiar with
The company was working on the IPO with Morgan Stanley
and Nomura Holdings, the report said.
The app, popular in Japan and one of the world's largest
with some 450 million users, could command a valuation of more
than $10 billion, the sources were cited as saying.
Line has not yet decided on a stock exchange, the size of an
IPO or which investment banks would underwrite the offering,
Naver and Line were not available for comment outside of
Asian business hours. Officials at Morgan Stanley and Nomura
were not immediately available for comment.
Investor interest in mobile messaging apps has grown in the
wake of Facebook's record $19 billion acquisition of
WhatsApp, which pushed up industry valuations and cast a
spotlight on the rapidly expanding market.
(Reporting by San Francisco newsroom; Editing by Bernadette