Messaging app Line mulls U.S., Japan IPO




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

The company was working on the IPO with Morgan Stanley and Nomura Holdings, the report said.

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

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

Naver and Line were not available for comment outside 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 Facebook’ record $19 billion acquisition WhatsApp, which pushed up industry valuations and cast a spotlight on the rapidly expanding market