May 31, 2016 / 11:20 AM / 3 years ago

Japan's messaging app Line to begin IPO roadshows on June 10-IFR

HONG KONG, May 31 (Reuters) - Japanese messaging app operator Line Corp is expected to launch management road shows for its planned $2 billion to $3 billion initial public offering (IPO) in New York and Tokyo on June 10, IFR reported on Tuesday.

Line expects to take orders from institutional investors in the week of June 13, with the IPO set to be priced either the same week or early the following week, the report said.

Once completed, the Line IPO would be the world’s biggest IPO this year.

Line Corp, which is owned by South Korea’s largest web portal operator, Naver Corp, has hired Morgan Stanley, Goldman Sachs, JPMorgan and Nomura to manage the IPO.

Line Corp and Naver could not be reached for comment immediately. (Reporting by Robert Hartley at IFR; editing by Susan Thomas)

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