Japanese social networking firm Line made its debut on the New York Stock Exchange Thursday at $42 per share, in the largest technology initial public offering of 2016.
Line, owned by South Korean internet company Naver, offered 22 million shares on the New York Stock Exchange, and 13 million shares on the Tokyo stock exchange. Shares are trading under the symbol "LN."
Shares of the Tokyo-based company jumped more than 30 percent after the offering with a high of $44.49, valuing the company at more than $9 billion. The stock closed at $41.58.
The company provides free voice calls and messaging, and gets the bulk of its revenue from games, digital stickers, and advertising. Line's games have racked up a cumulative 628 million downloads, the company said. Line said it has 218 million monthly active users, with two-thirds in Japan, Taiwan, Thailand, and Indonesia.