Messaging App Line Working on IPO with Morgan Stanely and Nomura

Line-app-logoMessaging app Line is working with Morgan Stanley and Nomura Holdings for a possible launch of IPO in November, Bloomberg has reported citing sources.

According to people, who wished not to be named, Line which is owned by South Korea’s Naver Corporation might launch its IPO in Tokyo Stock Exchange and possibly on Nasdaq or New York Stock Exchange.

It has been estimated that Line, which is Japan’s most popular messaging app, might have  valuation of $9.8 billion. This will be coming after WhatsApp was sold to Facebook for a price of $19 billion and Viber was purchased by Rakuten for $900 million.

Line has set a target of between 500 to 600 million users by the closing of this year. CEO Akira Morikawa had said that his company plans to double the users to one billion by 2015. Based on the price point of WhatsApp, it will be no surprise if Line gets a valuation of $10 billion or even $20 billion.

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