The revival of Tokyo's IPO market, or a bubble in the making? When news broke that Line, Japan's mega messaging app, was finally preparing to list its shares in Tokyo after months of speculation, investors had good reason to be excited. Line boasts over 400 million users globally and saw revenue triple in the first quarter. The IPO could value the company, owned by South Korea's Naver, at up to 20 billion dollars (USD). It's the latest boost to Japan's formerly quiet exchange.