[THE INVESTOR] Naver’s messaging app affiliate Line will reveal its IPO price band on June 28, ahead of its overseas listing. The one-day delay has been attributed to the volatile exchange rate following the Brexit decision.

Line announced on June 10 its decision to list in Japan and the US. 


“Although Nikkei rallied today, we reached an agreement to decide the price band after watching the UK and US markets,” said an official from the company. “But we will not have any problems for the overall listing process.”

The price band will be set after the market closes at 3 p.m. on June 28 and the final offer price announced on July 11 as scheduled, the official said.

The offer price suggested is 2,800 yen per a share, which will be taken into account for setting the price band.

The Tokyo-based company, however, is likely to face roadblocks for its listing as investors are suspicious over the company’s potential value as the messaging app company has shown lukewarm growth performance in Japan, local news reports suggested.

(theinvestor@heraldcorp.com)