Earlier, it debuted in NYSE at US$42 per share
Line Corp has made an impressive debut on the Tokyo Stock Exchange today, trading at JPY 4,900 (US$46.4) per share. This is 48 per cent more than its initial stated amount of JPY3,300 (US$31.2) per piece.
Yesterday, it also started trading on the New York Stock Exchange at a higher-than-expected value: starting at US$42 and closing at US$41.58 (approximately 36 per cent above the initial stated amount).
With the increase of share trading prices, the valuation of Line will soar to about US$9.3 billion.
The Naver-corp owned messaging platform monetises through a list of services and add-ons including emojis, gaming, taxi hailing, food delivery and music streaming.
Atul Goyal, an analyst at investment bank Jefferies said that while Line’s revenue through stickers and games may be experiencing stagnation, rapid growth in its mobile-ad business would boost its revenue stream.
In 2013, Line’s ad revenue was estimated at JPY 5 billion (US$47.o6 million); in 2015, it grew to JPY 26 billion (US$244.8 million).
Update: Line’s market capitalisation has hit US$10 billion.
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