The biggest tech IPO of the year is here – and Line popped

 
Lynsey Barber
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Line is a WhatsApp-style messaging app (Source: Getty)

The biggest tech IPO of the year is here, as Line goes public in a dual listing on the Tokyo and New York stock exchanges.

The Japanese messaging firm is the sixth most used messaging app in the world, boasting 218m users.

Priced at $32.84, shares popped nearly 30 per cent, opening at $42 per share and surging higher to $43.47 at pixel time.

That values Line at more than $9bn.

The stock will make its debut on the Tokyo stock exchange on Friday

The firm had upped its pricing ahead of today's debut, due to the high demand. It will use the newly raised cash to expand beyond its core audience in Asia.

Shares in Twilio, the last tech firm to IPO and one of just a few this year amid a quiet run, also surged today.

Read more: Brace yourself... the biggest tech IPO of the year is coming

They were up more than five per cent in early trading point, hitting an all-time intraday high of $44.79, indicating investors are taking a shine to new tech stocks.

Twilio surged as much as 70 per cent on its debut at the end of June.

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