SoftBank Group in Japan has filed a draft registration statement on Form F-1 to the US Securities and Exchange Commission (SEC) for the proposed public listing of its payments app subsidiary PayPay.
PayPay is planning to list American depositary shares (ADSs) representing its common shares on “a US stock exchange”, SoftBank said in announcing the filing last week. The group adds that “the exact schedule, size, and price for the public listing have not yet been determined”, and that the move “is subject to market and other conditions and is contingent upon the completion of the SEC’s review process”.
Reuters reports that the offering may raise in excess of $2 billion and could take place as early as Q4 2025, citing sources familiar with the matter, with SoftBank reportedly finalising preparations with Morgan Stanley, Mizuho Financial Group, Goldman Sachs and JP Morgan Chase.
Bloomberg reports that its sources say that the group is looking for PayPay to achieve a valuation of ¥1.5 trillion ($10 billion) or more through the potential listing.
PayPay provides around 70 million users with a QR code and bar code-based payment service, deployed in collaboration with Paytm, as well as credit card, banking, insurance and investment services.
SoftBank says that intends for PayPay to remain its subsidiary following the completion of the public listing.
Source: https://www.fintechfutures.com/
