Japan's Line Corp. is headed for what could be the biggest initial public offering for a technology company this year, including a major pitch to American investors.
The company behind one of Asia's most popular messaging apps plans to go public in Tokyo and New York in mid- to late July, with a goal of raising between $1 billion (about ¥107 billion) and $2 billion at a valuation of $5 billion to $6 billion, according to people familiar with the matter.
The Tokyo-based company aims to get about half the money from U.S. investors as it plots a long-term expansion there after pushing further into Southeast Asia, said the people, asking not to be identified because the matter is private.
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