Group 1 - PayPay Corp., a subsidiary of SoftBank Group Corp., has launched the roadshow for its initial public offering (IPO) of American depositary shares (ADSs), proposing to offer 54,987,214 ADSs at an estimated price range of $17 to $20 per ADS [1] - The offering includes 31,054,254 ADSs to be sold by PayPay and 23,932,960 ADSs to be sold by SVF II Piranha LLC, an investment fund controlled by SoftBank Group [1] - PayPay plans to grant underwriters a 30-day option to purchase an additional 8,248,081 ADSs to cover over-allotments [2] Group 2 - The company has applied to list the ADSs on the Nasdaq Global Select Market under the symbol "PAYP" [2] - Additionally, 8,653,079 ADSs will be offered in Japan as part of the total proposed offering, maintaining the same price range [2] - SoftBank Group intends for PayPay to remain its subsidiary post-IPO, with no expected material impact on its consolidated results or financial position [3]
PayPay Launches IPO Roadshow For 54.99 Mln ADSs