Messaging app Line’s stock soars in NYSE debut

In the morning session on Thursday, shares of Line jumped over 30 per cent, Xinhua news agency reported. The stock climbed 33% to $43.67 in the early minutes of trading.

Line chief global officer Jungho Shin (middle) and chief finance officer In Joon Hwang (left) watch the listing with NYSE president Tom Farley during the company’s IPO in NY, the USA, on Thursday. Line sells thousands of emojis and animations featuring its own characters, and users send hundreds of millions a day. Line priced its shares at the high end of its planned range, which usually is a sign that there is significant interest in the company from potential investors.

It is a mix of rival messaging service WhatsApp and China’s WeChat with a dash of Skype and a pinch of Facebook.

The company’s core messaging service lets mobile users communicate through free instant messaging and make voice and video calls, also serving as a portal to Line’s other applications and services, such as games, music and payments. Revenue sources include advertising and stickers, as well as more recent offerings like the Line Pay Card.

Leading Japanese mobile messaging application LINE (LINE), raised $1.2 billion on Monday by offering 35 million shares at 3,300 JPY ($32.84) each. It was also the first major messaging app to offer encryption, and it rolled out end-to-end encryption on all forms of communication this spring.

But what has set it apart so far – particularly in home market Japan where cute is king – are the stickers that friends can send to each other.

“The stickers are so good at explaining how we feel”, Nanako, a 25-year-old tech industry worker from San Francisco, said at the retail store in Tokyo’s youth fashion district. The company is expected to raise nearly $1.14 billion in total. App downloads, stickers, people can not get enough of stickers, and integrating other services. “If the users can serve their needs with this one-stop service we can satisfy customers”, Chin said.