Takeshi Idezawa, chief operating officer of Line Corp, speaks during an announcement of its new service in Tokyo
Takeshi Idezawa, chief operating officer of Line Corp, speaks during an announcement of its new service in Tokyo Reuters

Japan-based Line Corp., the creator of popular messaging app Line, said it has submitted documents to the Tokyo Stock Exchange to list its shares, and that it plans a separate listing in the US.

"The company is evaluating a potential listing in Japan and/or the United States," it said in a statement.

"Line has submitted certain documentation, including a listing application, to relevant authorities such as the Tokyo Stock Exchange. However, determinations regarding whether to ultimately list, listing venue and listing timing, etc, have not been made."

"We will provide an update once such determinations are made or within one month of this disclosure," it added.

The company did not provide further details including the possible initial public offering (IPO) size.

Dow Jones Newswires, citing an unnamed source, earlier reported that Line could list in Tokyo as soon as the autumn, valuing the company at an estimated 980bn yen ($9.6bn, £5.6bn, €7.1bn).

Established on 4 September 2000, Line Corp is led by CEO Akira Morikawa. As of 1 April 2014, the company has 666 employees and a capital of 12.6bn yen.

Related

The company recorded 14.6bn yen in revenue in the first quarter – more than threefold increase over the previous year. In 2013, it generated 51.8bn yen in revenues to be the highest-grossing non-game app of 2013, Reuters reported, citing analytics firm App Annie.

The company launched its popular messaging service in 2011 after the Great East Japan earthquake which damaged telecoms infrastructure across the nation.

Steadily improving on its features, the app currency has more than 400 million users primarily in Japan and Asia. It offers features including free calls, instant messages and video and image sharing.

Line has emerged as a strong competitor to WhatsApp, which was acquired by Facebook for $19bn, and WeChat owned by Chinese internet major Tencent.