Preparing for its IPO, messaging-app maker Line Corp. has set its price range in Tokyo and New York next month at $26.50 to $31.50 a share. As such, the Japanese firm could raise up to
$1.09 billion, The Wall Street Journal reports. “The range gives Line a valuation of 20 to 24 times price to earnings,” it notes, citing a person familiar with the matter.
Read the whole story at Wall Street Journal »