2016.07.12 Corporate

TOKYO, Japan, July 11, 2016 – LINE Corporation (“LINE” or the “Company”) (NYSE: LN; TSE: 3938) today announced the pricing of its initial public offering of 35,000,000 shares of its common stock, consisting of 22,000,000 shares of common stock in the form of shares or American Depositary Shares (“ADSs”) offered in the United States and elsewhere outside Japan at a price to the public of ¥3,300 per share or $32.84 per ADS and 13,000,000 shares of common stock offered in Japan at a price to the public of ¥3,300 per share.  The total offering size is approximately ¥115.5 billion, assuming the underwriters do not exercise their option to purchase additional shares.  


The Company’s ADSs are expected to begin trading on the New York Stock Exchange on July 14, 2016 under the symbol “LN” and its common shares are expected to begin trading on the Tokyo Stock Exchange on July 15, 2016 under the securities identification code “3938.”  Each ADS represents one of the Company’s common shares.  


LINE has granted Morgan Stanley & Co. LLC, as representative of the international underwriters, and Nomura Securities Co., Ltd., as representative of the Japanese underwriters, a 30-day option to purchase up to an aggregate of 5,250,000 additional shares of its common stock to cover over-allotments, if any.


Morgan Stanley & Co. LLC, Nomura Securities Co., Ltd., Goldman Sachs Japan Co., Ltd. and JPMorgan Securities Japan Co., Ltd. are acting as the joint global coordinators for the global offering.  Morgan Stanley & Co. LLC, Goldman, Sachs & Co., J.P. Morgan Securities LLC and Nomura Securities International, Inc. are acting as joint lead managers and bookrunners for the international offering.  


The offering is being made solely by means of a prospectus. Copies of the prospectus related to the offering may be obtained by calling any of the following numbers: (1) Morgan Stanley & Co. LLC at 1-866-718-1649, (2) Goldman, Sachs & Co. at 1-866-471-2526, (3) J.P. Morgan Securities LLC at 1-866-803-9204 or (4) Nomura Securities International, Inc. at 1-212-667-9300.  Note that these are not toll free calls from outside of the United States. 


A registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission.  This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.  



This press release has been prepared for the sole purpose of announcing the pricing of the Company’s shares and its ADSs, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside Japan. Investors should carefully review the prospectus, and any amendment thereto (if any), prepared by the Company concerning the offering of shares, which can be obtained from the underwriters, prior to making any investment decision in connection with the offering of shares of common stock of the company resolved at the board of directors meeting of LINE Corporation on June 10, 2016.