SoftBank-Backed PayPay Files For US IPO, Aiming For $13.4 Billion Valuation In High-Stakes Market Test

SoftBank Group (SFTBF) (OTC:SFTBY)-backed PayPay is moving forward with plans to raise up to $1.1 billion in a U.S. initial public offering, seeking a valuation of as much as $13.4 billion despite volatile global markets.
IPO Details And Market Backdrop
On Monday, the company disclosed in a filing with the U.S. Securities and Exchange Commission that it plans to sell nearly 55 million American depositary shares priced between $17 and $20 each.
At the top of the range, the offering would value the company at roughly $13.4 billion. PayPay intends to list on the Nasdaq under the ...Full story available on Benzinga.com