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Japanese chat app operator Line Corp soars in New York debut

NYSE president Tom Farley (L) speaks with Japan's Line Corp. CEO Takeshi Idezawa (middle) ahead of the company's IPO on the floor of the New York Stock Exchange (NYSE) in New York City, New York, U.S. July 14, 2016.

Shares of Japanese messaging app operator Line Corp (LN.N) soared as much as 36 percent in their U.S. market debut on Thursday, valuing the high-profile tech startup at $9.34 billion in the biggest tech IPO this year.

The offering of 22 million American Depository Shares (ADSs) at $32.84 each topped the upper end of the expected price range of $28.50-$32.50, raising about $723 million.

The Tokyo-based company's shares hit a high of $44.49 in early trading on the New York...


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