Line restarts IPO preparations, could bow to $10B this year

Line, the chat app and gaming platform which is becoming a lifestyle portal, is restarting preparations for an IPO. The Nikkei is reporting that the company reapplied to the Tokyo Stock Exchange to begin the procedure. A 2015 IPO is possible, but not guaranteed.

The move is new CEO Takeshi Idezawa’s first order of business. Yesterday, he officially took over the top spot. No, it was not an April Fool’s joke, but a transition months in the making.

Line explored an IPO last year, but pulled the plug in September. At the time, it was unclear if the IPO would happen in Japan or on an American stock exchange. According toNikkei that issue has not yet been resolved.

What is clear is that this IPO will be the most sought after Asian tech stock offering since Alibaba. The Chinese firm exceeded expectations and hit US$21 billion in value. Analysts say Line will likely hit US$10 billion.

Considering that estimate came before Line unveiled a host of services like payment, taxi booking, food delivery, music, shopping, and television, its future IPO could inch closer to Facebook’s US$16 billion premiere.

This post Line restarts IPO preparations, could bow to $10B this year appeared first on Tech in Asia.