While going public in the US is what PayPay needs for growth at the moment, the company will remain flexible about exploring a similar move in its home country, chief executive officer Ichiro Nakayama said in an interview. “We are not ruling that option out at all,” he said.
(March 13): SoftBank Group Corp-backed PayPay Corp is open to a dual listing with a presence on Tokyo’s bourse, its chief said after the digital payments company’s US$880 million ($1.13 billion) trading debut in New York.
American depositary receipts of Japan’s dominant payments app rose 14% to close at US$18.16 in New York on Thursday, above its initial public offering (IPO) price of US$16 and valuing the company at US$12.1 billion. The IPO — the biggest in the US by a Japanese company in a decade — is a boon to SoftBank and its telecom arm, which together own a majority of PayPay’s shares.
