Popular messaging app operator Line is set to launch the year’s biggest tech market debut.
On Monday, the company priced its IPO at 3,300 yen apiece, raising 115 billion yen ($1.14 billion), and valuing the company at around $6.6 billion. The Japanese firm is offering a total of 35 million new shares — 13 million in Japan and 22 million in New York. Line is slated for a dual listing later this week in New York and Tokyo, a much-anticipated debut that is the latest litmus test for tech IPOs, which have suffered a moribund year. Many companies are opting to raise money privately than to splash out with a public debut.
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ORIGINAL SOURCE: CNN