Overview of PayPay's IPO#
SoftBank-backed PayPay is preparing for its initial public offering (IPO), which is anticipated to price near the lower end of its expected range. This comes as geopolitical tensions are impacting global markets, according to reports from sources familiar with the situation.
Strong Demand Despite Market Volatility#
Despite the challenges in the market, PayPay's IPO has seen strong interest from investors. The offering was more than five times covered, indicating that there is significant demand for the shares being offered. This suggests that many investors are still keen on participating in the digital payments sector, even amidst recent market fluctuations.
Pricing Details#
The IPO will consist of 55 million American depositary shares, which are priced between $17 and $20 each. This pricing range implies that PayPay could achieve a valuation of up to $13.4 billion if the shares sell at the higher end of the range. The final pricing is expected to be announced after U.S. market hours on Wednesday, as the offering book has now closed.