According to IFR, a Thomson Reuters publication, messaging app LINE, which is owned by South Korea's largest web portal operator, Naver Corp, plans an initial public offering of up to $3 billion in New York and Tokyo Exchange at the same time.
So how popular is LINE?
The road to IPO was delayed for years since LINE decided the timing was not right. In August of 2015, Naver's CFO Hwang In-Joon said that the company would put off the IPO of Line until its earnings and market conditions improved.
Another possible reason for delaying an IPO was whether or not to list together in the U.S. and Japan at the same time, according to the Nikkei. I think with the high growth of the business and the growing interests among the retail, LINE feels more comfortable doing an IPO this year before the end of summer. We'll see how it turns out.