Japan's Line Messaging Service Is Preparing for Dual Listing in Tokyo and New York

Line Corp., operator of Japan’s most popular mobile-messaging service, is preparing for a dual listing in Tokyo and New York before Japan Post Holdings Co.’s initial public offering, people with knowledge of the matter said.

The Tokyo-based company aims to sell shares around September to avoid competing for investors with state-owned Japan Post, the people said, asking not to be named as the information is private. The government has said it will raise as much as 2 trillion yen ($16.5 billion) from a Japan Post listing later in the year. Line has resumed work with Morgan Stanley and Nomura Holdings Inc. on plans for its offering, which could value it at more than 1 trillion yen, the people said.