Popular Japanese messaging app Line Corp said yesterday that it was still considering plans for an initial public offering (IPO), after a report said it had shelved the sale for a second year in a row.
Line’s owner, South Korean Internet firm Naver Corp, was preparing an IPO for the company last year, but reportedly postponed it to focus on the messaging app’s expansion.
It was later reported that Line shares could start trading in Japan — and possibly New York — as early as this summer in a deal that could value it at more than US$8 billion.
However, the Wall Street Journal on Thursday cited unnamed sources as saying that Line had delayed the plan again until at least next year.
Responding to the report, Tokyo-based Line said it was still mulling a sale.
“Our company has never canceled plans for an IPO — we’re still in the review process,” a spokeswoman said.
“As far as the timing is concerned, we will look at the situation with global markets and our firm’s own performance in deciding when to go ahead with a sale,” she said.
The sale plan last year was put off due to disagreements between Line and its parent company over details of the listing, local media said.
More recently, global markets have been hit by a wave of volatility over fears about a slowdown in China and the impact on the world economy.
Line, a must-have app for Japanese smartphone owners, combines attributes from Facebook, Skype and WhatsApp. The app has a strong presence in Asian markets such as Taiwan, Thailand and Indonesia, as well as some Spanish-speaking areas, including Spain and Mexico.
NOTABLE SHIFT: By 2030, 50% of all laptops would be assembled in Southeast Asia, while Taiwan would still mostly focus on research and development, a report said Global laptop and desktop computer supply chains are expected to shift significantly away from China in the next 10 years, a Market Intelligence & Consulting Institute (MIC, 產業情報研究所) report said. By 2030, only 40 percent of global laptop production would remain in China, said the report, which was released on Thursday. “The reshuffling of the global supply chain will be one of the most important trends in the next 10 years,” the institute said in the report. “In the long run, key component makers will follow laptop assemblers in moving out of China.” The Taipei-based institute predicted most key component makers
Merck Group Taiwan yesterday said that it plans to invest substantially on expanding its fab in Kaohsiung’s Lujhu District (路竹) to better serve its local customers, including Taiwan Semiconductor Manufacturing Co (TSMC, 台積電). The company said it plans to expand its production space by 50 percent in the next five years and its workforce by about 40 percent, Merck Group Taiwan managing director Dick Hsieh (謝志宏) told a media briefing in Taipei. Hsieh declined to disclose investment details, but said that the latest investment would exceed the total amount Merck has invested in Taiwan over the past few years. Those investments would be
INVEST IN TAIWAN: A metal components casting firm and the world’s largest maker of aluminum bicycle rims also obtained approvals to join the program Solar Applied Materials Technology Co (SOLAR, 光洋應用材料), a part of Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) “green supply chain,” has pledged to invest NT$1 billion (US$34.1 million) to build a new plant at the Tainan Technology Industrial Park (台南科技工業區), the Ministry of Economic Affairs said yesterday. SOLAR has been collaborating with TSMC to extract precious metals from waste and reuse them as “sputtering target” material in high-end semiconductor manufacturing, a TSMC press release issued in May said. Established in 1978, SOLAR also offers key materials and integrated services to customers in the optoelectronics, information and communications technology, petrochemicals and consumer electronics industries,
‘SWARM TECH’: Joint venture FARobot is to develop autonomous mobile robots that would first be deployed in Hon Hai’s factories to optimize production efficiency Hon Hai Precision Industry Co (鴻海精密) and Adlink Technology Inc (凌華科技) have formed a robotic venture that aims to use “swarm technology” to create robots that can communicate with one another on the factory floor to optimize production efficiency. Hon Hai is Apple Inc’s leading iPhone assembler and the world’s largest contract electronics maker, while Adlink supplies industrial computers and Internet of Things solutions. Through a subsidiary, Hyield Venture Capital Co (鴻揚創投), Hon Hai holds a 51 percent stake in autonomous mobile robot (AMR) developer FARobot (法博智能移動), while Adlink owns the remaining 49 percent. Together, the two companies put up NT$200