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June 28, 2016 04:31 pm GMT

Messaging app LINE sets price range for possible July IPO, poised to raise over $1 billion

A smart phone is shown with messaging app Line in Seoul, South Korea, Wednesday, July 16, 2014. Naver Corp. said its subsidiary Line Corp. that operates a popular mobile messaging app is considering listing its shares in Tokyo or New York. Naver, South Korea's largest Internet company, said Wednesday that Line could sell shares in an initial public offering in both Japan and the U.S. (AP Photo/Lee Jin-man)LINE Corp., makers ofamessaging app that’s gone mainstream inJapan, Thailand and Taiwan, has set a price range for an initial public offeringon the Tokyo and New York Stock exchanges in July.Its shares would be priced between 2,700 and 3,700 yen, or about $26.50-$31.50 per share. AsThe Wall Street Journal reported earlier today, at those prices, LINE’s IPO could raise up… Read More

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