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Tokyo Fiery Day Traders Gear Up For Year’s Biggest Tech IPO
- Gray market trading suggests boost to shares on debut
- Line counting on smooth IPO as it seeks to expand globally
A Line character is seen at the LINE Friends Store in Harajuku.
Photographer: NurPhoto via Getty ImagesThis article is for subscribers only.
Day traders in Tokyo are famous for their love of technology companies, new listings and volatility. So many expect fireworks when messaging app Line Corp. -- the biggest tech initial public offering of the year -- makes its Japan trading debut on Friday.
Accounting for about a fifth of the nation’s daily turnover, the traders have a tendency to favor stocks popular with the general public. That’s leading many to expect a feeding frenzy -- at least initially -- for shares in a service that’s become intertwined with the daily lives of Japan’s population.