SoftBank's PayPay IPO is likely to price at the low end of its $17-$20 per share range due to market volatility from the Middle East conflict, targeting a valuation of up to $13.4 billion. The offering's book was covered more than five times before closing, with final pricing expected after U.S. markets close on Wednesday.
The IPO process has faced multiple delays, including a previous postponement during a U.S. government shutdown and a recent roadshow delay due to the same geopolitical tensions.
PayPay, a Japanese digital payment app that has encouraged cashless transactions, plans to list on the Nasdaq under the symbol "PAYP".
Main Topics: PayPay IPO pricing and valuation, geopolitical impact on financial markets, delays in the IPO process, PayPay's business role in Japan.
The initial public offering of SoftBank's PayPay is likely to price around the low end of its marketing range as war in the Middle East roil markets, said âtwo people â familiar â with the matter.
The IPO book was covered more than five times, one of the people said. It has now closed and pricing will be finalised after U.S. market hours on Wednesday, the person said.
The Japanese payment app operator was offering 55 million American depositary â shares, priced $17 âto $20 apiece, a filing this month showed, targeting a valuation of up to $13.4 billion.
The â people declined to be identified as the information is not public. PayPay declined to comment.
PayPay has played a central role in encouraging Japanese consumers to move away from a preference for cash by offering rebates on its payments app.
However, it has had a bumpy IPO path. Its âIPO roadshow was initially postponed after markets were jolted by conflict in the Middle East, Reuters reported last week.
It â had already postponed the IPO last year during the U.S. government shutdown, which disrupted regulatory processes and delayed regulatory filing.
PayPay plans to list on the Nasdaq under the symbol "PAYP". Reuters first reported its plans for a U.S. listing in 2023.
The IPO book was covered more than five times, one of the people said. It has now closed and pricing will be finalised after U.S. market hours on Wednesday, the person said.
The Japanese payment app operator was offering 55 million American depositary â shares, priced $17 âto $20 apiece, a filing this month showed, targeting a valuation of up to $13.4 billion.
The â people declined to be identified as the information is not public. PayPay declined to comment.
PayPay has played a central role in encouraging Japanese consumers to move away from a preference for cash by offering rebates on its payments app.
However, it has had a bumpy IPO path. Its âIPO roadshow was initially postponed after markets were jolted by conflict in the Middle East, Reuters reported last week.
It â had already postponed the IPO last year during the U.S. government shutdown, which disrupted regulatory processes and delayed regulatory filing.
PayPay plans to list on the Nasdaq under the symbol "PAYP". Reuters first reported its plans for a U.S. listing in 2023.
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