By Hwang Hyung-gyu and Lee Kyung-jin, Maeil Business News Korea Japan-based LINE Corporation, the online chat app service affiliated with South Korea’s web portal giant Naver Corporation, will go public both on the Tokyo Stock Exchange and the New York Stock Exchange next month. Photo courtesy of Pulse/Maeil Business News Korea On Friday, authorities in the two markets approved LINE’s stock listing applications, allowing the company’s stock trading from mid-July. This will be the first simultaneous IPOs by a Japanese company involving the NYSE. With its market capitalization estimated to reach roughly 600 billion yen ($5.6 billion), LINE’s IPO would be bigger than any technology stock offers made in the U.S. Japan, or any parts of the world so far this year. Nomura Securities and Morgan Stanley are leading the IPOs. LINE’s chat app is highly popular in Japan and Southeast Asia with more than 200 million active users in [...]
