Line Set to Jump in Tokyo IPO as Buy Orders Outnumber Sells

Line Soars in $1.3 Billion U.S. Trading Debut

Line Corp. was set to jump in Tokyo trading after shares surged 27 percent in its U.S. debut on Thursday, marking a strong start for the largest global technology initial public offering of the year.

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.

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