Japanese messaging app company Line has listed on the Tokyo stock market, completing the IPO that began earlier this week, and valuing the company at over $7bn (£5.2bn).
Following on from its launch on the New York stock exchange, the listing has raised over $1.1bn for the company – the biggest tech IPO of the year so far.
Line's Japanese shares closed at ?¥4,405, up 33 per cent on the opening price of ?¥3,300.
Line's empire is built around its messaging app, which has 218m monthly active users – two-thirds of them in Japan, Thailand, Taiwan and Indonesia – with a host of supporting apps that plug in to add extra functionality, most notably games. Its core revenue-generating product is 'Stickers', animated images that can be added to messages.
Users spent ¥28.7bn on stickers in 2015, up 38 per cent year-on-year – far outpacing the app's six per cent growth in user numbers over the same period. That's according to the company's F-1 filing, which also conceded that "if the popularity of Stickers declines from its current level in Japan or is not widely replicated in other markets, our business and future growth could be negatively affected."
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