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Line sets higher IPO price range, to raise up to $1.3 billion - filing

Published 04/07/2016, 08:04
Updated 04/07/2016, 08:10
© Reuters. Line characters are seen at the Line Corp's headquarters in Tokyo

TOKYO (Reuters) - Line Corp has raised the tentative price range for its initial public offering with the IPO to be worth as much as $1.3 billion (0.98 billion pounds), a regulatory filing showed on Monday, in a sign of strong demand for shares of the Japanese messaging app firm.

The company bumped up the price range to 2,900-3,300 yen per share, from the 2,700-3,200 yen range it had set last week. At the top of the range, Line would sell up to 132.8 billion yen ($1.3 billion) of shares including an overallotment arrangement.

© Reuters. Line characters are seen at the Line Corp's headquarters in Tokyo

The final IPO price will be set on July 11.

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