Line Corp. Shares Soaring In Biggest Tech IPO Of The Year

Shares of Line Corp. were trading at $44, well above the company's $32.84 issue price, in the Japanese messaging company's market debut. Line Corp. sold 35 million shares, comprising 22 million American depositary shares and 13 million shares on the Tokyo Stock Exchange. The company raised about $1.14 billion in the biggest tech offering of the year. Shares on the Tokyo exchange will trade Friday. Morgan Stanley represented the international underwriters, and Nomura Securities Co. represented the Japanese underwriters.