The largest tech initial public offering of the year is off to a solid start.
Shares of Line, a Japanese mobile messaging app, jumped 30% in their debut on Thursday. The stock opened at $42 per share and had been priced at $32.84.
Line is putting up 22 million shares in New York, and 13 million shares on the Tokyo stock exchange.
The company was expected to raise more than $1 billion in its debut.
It’s been a relatively slow year for IPOs, and Line is only the fifth tech company to go public in 2016. The market sell-off at the start of the year put many companies, especially in the tech sector, off the public markets.
The stock is trading on the New York Stock Exchange with the ticker “LN.”
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