Finally, the IPO market has come back to life. Today the chat operator Line Corp (ADR) (NYSE:LN) pulled off a convincing offering, with the stock up about 32%. This came after the company boosted the price range on the deal and priced the shares at the top end. Source: Via Line Corp
Good news for the underwriters, including Morgan Stanley (NYSE:MS), Goldman Sachs Group Inc (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM) and Nomura Securities. And the Line IPO likely means that — during the fall –we’ll probably see quite a bit more activity with public offerings.
But first, let’s take a deeper look at the company. Actually, the roots of Line go back to 2011 when Naver Corporation — which is a large Internet operator in Korea — built the app as a way to allow people to communicate in the aftermath of the horrific earthquake and tsunami in Japan. The core functions included text, voice and even video calls. And of course, there was no charge. Read