PayPay Announces US Public Listing Ambitions

In a significant move for the fintech sector, PayPay Corporation, a leading payment service under the umbrella of LY Corporation, has officially filed for a public listing in the United States. This strategic step marks a pivotal moment for the company, which is jointly owned by SoftBank Group Corp. and Naver Corporation.

Financial Ambitions and Regulatory Steps

According to insider sources cited by the Financial Times, SoftBank is setting its sights high, aiming to secure over $2 billion from the sale of depositary shares. PayPay has taken the first formal step towards this goal by submitting a draft registration statement on Form F-1 to the US Securities and Exchange Commission (SEC).

Important to note: The final details regarding the timing, scale, and pricing of the public offering remain undecided. PayPay has emphasized that the listing's success hinges on favorable market conditions and the completion of the SEC's comprehensive review process.