LINE to delist its shares from TSE and NYSE
LINE Corporation announced today that its proposal to conduct a share consolidation was approved at the extraordinary general meeting of shareholders held on December 15, 2020. In accordance with the prescribed procedures, the common shares of the company will be delisted from the First Section of the Tokyo Stock Exchange on December 29, 2020.
In addition, after having filed an application to delist from the New York Stock Exchange (NYSE) on December 17, 2020, the American Depositary Shares of the company will be delisted from the NYSE on December 28, 2020.
With the LINE messaging app as the cornerstone, LINE Corporation’s business encompasses development and operation of a wide range of services – including communication, content, and entertainment and advertising, as well as new businesses in Fintech, AI, and other domains.
Let’s recall that, in October 2020, LINE announced the first LINE Blockchain-powered third party services. These were developed on LINE’s proprietary blockchain, “LINE Blockchain,” through LINE TECH PLUS PTE. LTD. LTP is a subsidiary of LVC Corporation, an operator of LINE’s cryptocurrency and blockchain-related businesses.