TAIPEI (Taiwan News) — The Taiwan Stock Exchange (TWSE) has given the green light to Line Pay Taiwan Limited for an initial public offering (IPO), with final approval expected from the Taiwan Stock Exchange (TWSE) board.
Line Pay Taiwan Limited is the company behind Line Pay. Line Pay is currently the largest third-party payments provider in Taiwan, per UDN.
The company's shares were listed on the Taipei Exchange (TPEx) earlier this year at NT$348 (US$11) per share. On the first day of trading, its stock price reached NT$1,030, securing the company the title of “TPEx King.”
On July 26, Line Pay Taiwan Limited officially submitted an IPO application to the TWSE. Chairman Woongju Jeong explained that listing TPEx for six months had fulfilled a requirement, according to UDN Money.
They were now formally applying for a listing on the TWSE to ensure long-term corporate and brand development. This marks a crucial step in the company's path towards sustainable growth, Jeong said.
Line Pay has been available to users in Taiwan since 2015. The service has a user base of over 12 million.
Line Pay is accepted at over 540,000 payment locations. The company has partnered with four financial institutions to offer over 8 million co-branded Line Pay cards and Line Points reward cards.
It is seeking a listing with a capitalization of NT$600 million. Chair Woongju Jeong and the nine-member board of directors collectively hold 85.50% of the company's shares.
Line Pay Taiwan Limited reported earnings per share (EPS) of NT$2.68, NT$7.51, and NT$8.09 from 2021 to 2023, respectively. The company holds an EPS of NT$6.12 in the first half of this year, per CNA.
On Friday, the company's closing reference price on the market was NT$592, a 32% increase.
