IPO Roundup June 13, 2016


Seoul prosecutors raid Lotte Group, casting new doubt over hotel unit IPO | Reuters

South Korean prosecutors raided the offices of Lotte Group, the country’s fifth-largest conglomerate, and several affiliates on Friday, dealing a further blow to its hotel unit’s planned IPO, billed as the world’s biggest this year. 


Line to Launch IPO on NYSE and in Tokyo – Khaosod English

Line Corp., the Japan-based operator of the namesake messaging app huge in Thailand and Asia, will list its shares in New York and Tokyo next month, as the iconic Asian mobile messenger app seeks to expand globally. 


IPO of state-owned institutions to revolutionise regional stock markets | GulfNews.com

The GCC has been mulling over privatisation for almost 20 years now, but the implementation has been rather slow, inconsistent and mostly on a ‘needs-basis’. 


Messaging app Line files for IPO on NYSE on July 14, Tokyo July 15, trading as LN, to raise $1B | TechCrunch

Two years after the first reports of an IPO emerged, Japan’s Line Corporation — the company behind the popular messaging app Line, and possibly the first of the big messaging apps to go public — today announced that it has filed to go public on the New York Stock Exchange in the U.S. and the Tokyo Stock Exchange in Japan, trading as LN. 


The Chinese tech company that’s bucking the US IPO trend

Chinese technology companies that trade on U.S. exchanges have been so beaten down that many are trying to go private so they can potentially relist at home. That makes Friday’s debut of China Online Education Group all the more unusual. 


Guvera’s pre-IPO pitch to accountants misled about relationship with JP Morgan | afr.com

AMMA Private Equity, the outfit behind IPO hopeful Guvera, misled early stage investors when it claimed to have investment bank JP Morgan on board to manage its public listing. 


Japan’s Line Plans IPO at $5.5 Billion Valuation in July – Bloomberg

Line Corp. is aiming to go public in Japan and the U.S. at a total market valuation of 588 billion yen ($5.5 billion), putting it on track to deliver the biggest market debut for a technology company this year. 


US IPO Weekly Recap: Two deals end flat as LINE files highly-anticipated tech IPO – NASDAQ.com

A heavily-discounted Atkore International opened in negative territory on Friday, but end-of-day buying brought it up to its offer price, while China Online Education traded up about 5% initially, before breaking issue minutes before the close. 

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