Brace yourself... the biggest tech IPO of the year is coming - and it's increased its pricing

 
Lynsey Barber
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Line is more popular than Facebook Messenger and WhatsApp in Japan (Source: Getty)

The Japanese messaging app Line has priced its initial public offering higher than expected in what's expected to be the biggest tech IPO so far this year, due to high demand.

The WhatsApp-like app has set its target price offering at between 2,900 (£21.30) yen and 3,300 yen, higher than its previous target of between 2,700 yen and 3,200 yen ahead of a final pricing on 11 July.

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That pricing would set Line on course for an IPO worth up to $1.3bn (£980m) in a dual listing in Tokyo and New York, including an overallotment option.

Line is the most used messaging app in Japan and the sixth most used in the world with 218m users.

Its public offering follows hot on the heels of US tech unicorn Twilio which successfully floated in June with a market capitalisation of more than $2bn, the first big tech listing of the year putting investors' appetites to the test.

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