Deals
Line Said to Submit IPO Application to Tokyo Stock Exchange
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Line Corp., operator of Japan’s most popular mobile messaging service, submitted an application for an initial public offering to the Tokyo Stock Exchange, people familiar with the matter said.
Line, controlled by South Korea’s Naver Corp., plans to appoint Nomura Holdings Inc. as a lead underwriter for the share sale, according to the people. The offering could value Tokyo-based Line at more than 1 trillion yen ($9.8 billion), the people said, asking not to be identified as the deliberations are private.