Messaging app Line mulls U.S., Japan IPO




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popular messaging app, Line, owned by Asia’s Naver Corp, is preparing an initial public offering United States and Tokyo as soon as November, Bloomberg reported Tuesday, citing people who were familiar with matter.

working the IPO with Morgan Stanley and Nomura Holdings, the report said.

The app, popular and of the world’s largest with some 450 million users, could command a valuation of more than $10 billion, the sources were cited as saying.

Line has not yet decided a stock exchange, the size of an IPO or which investment banks would underwrite the offering, Bloomberg said.

Naver and Line were not available for comment outside of Asian business hours. Officials at Morgan Stanley and Nomura were not immediately available for comment.

Investor interest mobile messaging apps has grown the wake of Facebook’s $19 billion acquisition of WhatsApp, which pushed up industry valuations and cast a spotlight the rapidly expanding