offering: The Tokyo-based company shares hit a high of $44.49 in early trading on the New York Stock Exchange, according to Euro News. Line, controlled by South Korea Naver Corp <035420.KS>, will list its stock on the Tokyo Stock Exchange on Friday. The offering of 22 million American Depository Shares at $32.84 each topped the upper end of the expected price range of $28.50-$32.50, raising about $723 million. The company sold 13 million shares at 3,300 yen per share in Japan, raising about $426.92 million. After the offering, Naver ownership dropped to 80.8 percent. Including an overallotment of 5.25 million shares, the company raised 132.8 billion yen , making the offering Japan biggest this year.
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