(Reuters) – The popular messaging app, Line, owned by Asias Naver Corp, is preparing an initial public offering in the United States and Tokyo as soon as November, Bloomberg reported Tuesday, citing people who were familiar with the matter. The company was working on the IPO with Morgan Stanley and Nomura Holdings, the report said. The app, popular in Japan and one of the worlds largest with some 450 million users, could command a valuation of more than $10 billion, the sources were cited as saying. Line has not yet decided on a stock exchange, the size of an IPO or which investment banks would underwrite the offering, Bloomberg said.
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