The shares rose to 4,345 yen in Tokyo from their IPO price of 3,300 yen, giving Line a valuation of 912 billion yen ($8.6 billion). After hesitating to wait for better market conditions, that estimate had slipped to just under 600 billion yen when Line pulled the trigger on its market debut last month. But the company chalked up a net loss of 7.6 billion yen in the period, according to its IPO filing. Line, controlled by South Korea’s Naver Corp., raised $1.3 billion after pricing its offering at the high end of an increased range. The company sold 35 million shares and also exercised a greenshoe option to sell an additional 5.25 million.

Source: Mint July 15, 2016 10:07 UTC