Smartphone messaging app operator Line Corp. is considering initial public offerings on bourses in Japan and the U.S. this year to raise funds and accelerate overseas business, according to sources.
Line, a Tokyo-based subsidiary of South Korea’s Naver Corp., is considering listing on the Tokyo Stock Exchange as well as the New York Stock Exchange or Nasdaq.
Some analysts have said Line’s market capitalization could be as much as ¥1 trillion. It has rapidly expanded its business, attracting more than 430 million users worldwide with its free messaging and voice call services for smartphones.
Although Line is widely known in Asian countries, boosting the number of users in Europe and the United States has been a challenge in face of competition among similar applications.