Line Corporation, the global platform for mobile messaging and communication services, content distribution and advertising, began trading on July, 14, on the New York Stock Exchange (NYSE) under the ticker symbol “LN,” after its initial public offering.
Line raised $1.1 billion in gross proceeds, being the third U.S. IPO to raise over $1 billion, following US Foods (NYSE: USFD) and MGM Growth Properties (NYSE: MGP).
To mark its public debut, Chief Global Officer Jungho Shin, Chief Financial Officer In Joon Hwang and Chief Strategy and Marketing Officer Jun Masuda rang the opening bell.
Japaned Line operates the LINE messenger app, a global service used in more than 230 countries that offers free one-to-one and group messaging, free domestic and international voice and video calls, virtual stickers and a wide range of non-messaging services ranging from games to photo sharing apps.
Line’s IPO on the NYSE follows the recent listing of Twilio (NYSE: TWLO), the first U.S. venture-backed tech IPO of 2016, and the one pf previous years of tech leaders such as Twitter, Alibaba, Pure Storage, and Square.