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LINE Corp. to issue 5.25m more shares for W186b capital increase
By 황유미Published : Aug. 1, 2016 - 09:18
[DISCLOSURE] Naver (035420) announced on July 29 that its subsidiary LINE Corp. has decided to issue 5.25 million shares and offer them to Nomura Securities and Morgan Stanley & Co. for capital increase.
This is to finance 186.02 billion won (US$166.90 million) to acquire stocks of other firms and is in accordance with the greenshoe option, which allows additional stocks to be issued when the stock price stays above the subscription price after IPO.
This is to finance 186.02 billion won (US$166.90 million) to acquire stocks of other firms and is in accordance with the greenshoe option, which allows additional stocks to be issued when the stock price stays above the subscription price after IPO.
