NEW YORK--(BUSINESS WIRE)--LINE Corporation, a leading global platform for mobile messaging and communication services, content distribution and advertising, began trading today 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 and is the third U.S. IPO to raise over $1 billion in proceeds, following US Foods (NYSE: USFD) and MGM Growth Properties (NYSE: MGP). GTS is the NYSE Designated Market Maker (DMM) for LINE’s shares.
To mark LINE’s 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® and visited the company’s DMM on the NYSE Trading Floor to observe the opening of LN. They were joined by popular LINE characters Cony and Brown. LINE employees in Tokyo cheered the stock’s opening via live webcast.
“Today is an exciting day at the NYSE as we welcome LINE, a leading global messenger app and the largest tech IPO to date in 2016, to our community of the world’s leading network of innovative companies,” said Tom Farley, NYSE Group President. “We congratulate the LINE team on its IPO and look forward to delivering the superior market quality, global visibility and best-in-class issuer services that are associated with listing on the NYSE.”
LINE’s IPO on the NYSE follows the recent listing of another high-profile tech IPO, Twilio (NYSE: TWLO), the first U.S. venture-backed tech IPO of 2016. The NYSE has led in tech IPOs since 2012 and has welcomed tech leaders such as Twitter, Alibaba, Pure Storage, and Square to name a few.
The NYSE is home to many of the world's most iconic brands, technology business leaders and emerging growth companies shaping today's global economic landscape. For more information on listing on the New York Stock Exchange, visit https://www.nyse.com/the-exchange.
About LINE Corporation
LINE Corporation is based in Japan and operates the LINE messenger app, a global service used in more than 230 countries. It offers free one-to-one and group messaging. Free domestic and international voice and video calls are also available. Apart from its messenger app that is used to send popular virtual stickers -colorful emoticons- the company offers a wide range of non-messaging services ranging from games to photo sharing apps. For more information about LINE, please visit http://linecorp.com/en/.
About NYSE Group
NYSE Group is a subsidiary of Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses, and a provider of data and listings services. NYSE Group includes exchanges, market data and connectivity services. The equity exchanges -- the New York Stock Exchange, NYSE MKT and NYSE Arca -- trade more U.S. equity volume than any other exchange group. NYSE is the premier global venue for capital raising, leading worldwide in IPOs, including technology IPOs. NYSE Arca Options and NYSE Amex Options are leading equity options exchanges.
About Intercontinental Exchange
Intercontinental Exchange (NYSE:ICE) operates the leading network of global futures, equity and equity options exchanges, as well as global clearing and data services across financial and commodity markets. The New York Stock Exchange is the world leader in capital raising, listings and equities trading.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2015, as filed with the SEC on February 4, 2016.
SOURCE: Intercontinental Exchange