Line just renewed its IPO paperwork, but don’t hold your breath

Messaging app Line has renewed its paperwork for an initial public offering on the Tokyo Stock Exchange, but that doesn’t mean it will list this year. A spokesperson told TechCrunch “there have been no decisions made in regards to the IPO at this point in time. We have no further comments.” Line, a subsidiary of South Korean Internet giant Naver, said last year that it is postponing its IPO to focus on international expansion. Its previous IPO paperwork expired on Tuesday, the end of Japan’s fiscal year, and the new application may just mean that Line wants to keep open the possibility of a listing, even if it doesn’t have any concrete plans yet. The messaging app maker’s new CEO Takeshi Idezawa, who officially took the position yesterday, reiterated in a recent interview with WSJ that Line wants to grow its overseas business first before listing on the stock market. This is important for the company because even though Line is the top messaging app in Japan, Taiwan, and Thailand, it has struggled to gain traction in other countries.