Japanese Chat App Line Soars in New York-Tokyo Dual Listings

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Shares of Japanese messaging app operator Line Corp surged almost 50 percent in Tokyo on Friday after soaring as much as 36 percent in their US market debut, valuing the startup at $9.3 billion (roughly Rs. 62,407 crores) in the biggest tech IPO this year. The shares first traded in the Tokyo Stock Exchange at JPY 4,900, or 48.5 percent above their IPO price of JPY 3,300, helped by demand from investors hungry for a rare chance to invest in a tech startup.

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