Line reported to submit IPO application to Tokyo Stock Exchange

Line reported to submit IPO application to Tokyo Stock Exchange

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Line Pop-up Store, Orchard, Singapore
Line Pop-up Store, Orchard, Singapore

According to several news sources, Line, the Japanese messaging app company and a subsidiary of Korea internet company Naver (TSE:035420), was reported today that it has submitted an IPO application to the Tokyo Stock Exchange. The company and its potential underwriter Nomura Securities have not approved the report.

Bloomberg reported last month that Line has been in talk with Morgan Stanley and Nomura Securities to explore possibilities to go IPOs at Tokyo Stock Exchange as well as New York Stock Exchange or NASDAQ simultaneously.