Home / Business and Economy / PayPay IPO Eyes $10B Valuation in US Debut
PayPay IPO Eyes $10B Valuation in US Debut
13 Feb
Summary
- PayPay filed for a US IPO, potentially Japan's largest listing.
- SoftBank aims for a valuation of $10 billion or more.
- PayPay reported significant profit growth in the nine months ended Dec. 31.
PayPay Corp., SoftBank's digital payments arm, has publicly filed for an initial public offering in the United States. This move could represent the largest-ever listing for a Japanese company on a U.S. stock exchange. SoftBank Group Corp. is aiming for a valuation of $10 billion or more for its subsidiary.
In the nine months concluding December 31, PayPay reported a profit of ¥103.3 billion ($676 million) on revenue of ¥278.5 billion. This marks a significant increase from the ¥28.96 billion profit achieved in the same period last year. Details regarding the number of shares and pricing will be revealed in a future filing.
PayPay, known for Japan's dominant QR-code payment application, was initially established through a venture involving Indian payments firm Paytm. The company plans to list on the Nasdaq Global Select Market under the ticker symbol PAYP. Goldman Sachs, JPMorgan Chase, Mizuho Financial Group, and Morgan Stanley are leading the offering.
