Japanese messaging app Line files for IPO valued above $10 billion

Japanese messaging app operator Line Corp applied for an initial public offering (IPO) valued at upwards of 1 trillion yen (USD 9.85 billion) around two weeks ago at the Tokyo Stock Exchange, as per the media reports.

Line, owned by South Korea's Naver Corp, has tapped investment bank Nomura Holdings Inc to manage the IPO, the person said, adding that the company is considering a dual listing in Tokyo and New York, reported media.

According to media reports, Line has grown rapidly to claim popularity in Asia and Latin America with more than 480 million downloads globally.