Line Corp., Japan's most popular mobile-messaging service, and its owners are aiming to raise as much as ¥112 billion in what could become the biggest technology initial public offering globally this year.
Backed by South Korean search portal Naver Corp., Line and its existing investors are offering 35 million shares at ¥2,700 to ¥3,200 apiece, the company said Tuesday. The Tokyo-based company had said earlier it planned to sell shares with an indicative price of ¥2,800.
Line is planning to go public during one of the most tumultuous times for global markets in years. It announced pricing a day later than originally planned, after the U.K.'s vote to exit the European Union sent stocks and currencies into a tailspin. However, Line's well-recognized brand may tempt individual investors at home.