LINE’s IPO will boost Naver’s stock: report

[THE INVESTOR] Naver ’s stock price is forecast to rise in sync with the upward trend of mobile messenger firm LINE Corp’s stock, which was listed on the New York Exchange and Tokyo Stock Exchange this week, according to a market report on July 15.

“LINE made a high-profile debut, opening at US$42 per share, up 27.9 percent from its offer price of US$32.84,” said Oh Dong-hwan, an analyst from Samsung Securities.

“Naver’s stock will likely move in tandem with that of LINE in the short term,” he said.

The analyst also forecast the Korean Internet giant’s new businesses including video streaming and online shopping could boost its bottom line.

(theinvestor@heraldcorp.com)