The popular messaging app, Line, owned by Asia’s Naver Corp, is preparing an initial public offering in the United States and Tokyo as soon as November, Bloomberg reported Tuesday, citing people who were familiar with the matter.
Line has not yet decided on 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 in mobile messaging apps has grown in the wake of Facebook’s record $19 billion acquisition of WhatsApp, which pushed up industry valuations and cast a spotlight on the rapidly expanding market