26-06-2016 03:20 via uk.news.yahoo.com

Line, the biggest tech IPO of the year, struggles to show its growth plan can work

By Yoshiyasu Shida and Thomas Wilson TOKYO (Reuters) - In delaying its IPO by two years, Japanese messaging app company Line Corp bought time to correct weak financial reporting controls, work on its business plan, bolster staffing - and left billions of dollars on the table as its valuation shriveled. Line's initial public offering in the next three weeks is set to raise about $1 billion, which given a global drought of such deals could make it the biggest tech listing this year, but skeptical
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