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PayPay and its shareholder, SoftBank's Vision Fund II, are divesting around 55 million depositary receipts. Every depositary receipt corresponds to one common share of PayPay, with the price range from $17 to $20 per share. The sovereign wealth funds of UAE and Qatar (Abu Dhabi Investment Authority and Qatar Investment Authority), along with a Visa subsidiary, have allegedly consented to acquire shares valued at up to $220 million.
The cost of the PayPay service is likely to be set on March 11. The company's initial public offerings will be listed on the Nasdaq with the ticker symbol PAYP. Sources informed Bloomberg and Reuters that PayPay has opted to delay its IPO marketing efforts owing to market fluctuations stemming from the situation in the Middle East.
According to Bloomberg estimates, at the upper limit of the price range, PayPay's market capitalization would be around $13.4 billion. The firm was aiming for a valuation exceeding $10 billion, but SoftBank's founder Masayoshi Son pushed for a valuation of $20 billion, as per the agency's sources
source: bloomberg.com
The cost of the PayPay service is likely to be set on March 11. The company's initial public offerings will be listed on the Nasdaq with the ticker symbol PAYP. Sources informed Bloomberg and Reuters that PayPay has opted to delay its IPO marketing efforts owing to market fluctuations stemming from the situation in the Middle East.
According to Bloomberg estimates, at the upper limit of the price range, PayPay's market capitalization would be around $13.4 billion. The firm was aiming for a valuation exceeding $10 billion, but SoftBank's founder Masayoshi Son pushed for a valuation of $20 billion, as per the agency's sources
source: bloomberg.com
