Line Set to Jump in Tokyo IPO as Buy Orders Outnumber Sellsby , , and
Shares of Japan’s largest messaging company have yet to trade as of 9:15 a.m. in Tokyo as buyers outnumbered sellers. The stock closed at $41.58 in New York, up from its IPO price of $32.84. The Tokyo’s offering price was set at 3,300 yen.
Line, owned by South Korea’s Naver Corp., raised $1.3 billion after pricing its offering at the high end of an increased range. The company is valued at $8.7 billion using its closing price in New York.