PayPay, backer aim to raise roughly $1.1 billion in US IPO
CNA
March 2 : PayPay and a selling shareholder are aiming to raise as much as $1.1 billion in an initial public offering in the United States, the SoftBank-backed Japanese payments app said on Monday.The Tokyo-based company and a selling shareholder plan to sell nearly 55 million American depositary shares priced
March 2 : PayPay and a selling shareholder are aiming to raise as much as $1.1 billion in an initial public offering in the United States, the SoftBank-backed Japanese payments app said on Monday.
The Tokyo-based company and a selling shareholder plan to sell nearly 55 million American depositary shares priced between $17 and $20 apiece, it said.
PayPay's IPO roadshow was initially expected to launch before markets opened on Monday but got postponed as markets were rattled by this weekend's attack on Iran, Reuters has reported.
The U.S. IPO market has had a rocky start to the year, with bouts of volatility prompting several companies to delay listing plans. Analysts say a strong debut from PayPay could help improve sentiment.
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