Messaging App Line Delayed IPO Launch
Japanese messaging app firm Line Corp has delayed setting a tentative price range for its initial public offering (IPO) by one day, until Tuesday, the company said in a regulatory filing, citing the "market environment".
The IPO price range was originally scheduled to be announced on Monday. Line still plans to list in New York on July 14 and in Tokyo the following day, the filing showed.
On Friday, the S&P 500 fell 3.6 percent, its biggest one-day drop in 10 months, and Japan's broad Topix index slid 7 percent after Britain voted to exit the European Union.
The equity market in Japan recovered somewhat on Monday as the Topix closed up 1.8 percent, but the delay will allow the company to assess the market in New York and London on Monday before setting the tentative price range, a...