Market Chatter: PayPay to Price IPO Around Lower End of Range

MT Newswires Live
Mar 11

PayPay (PAYP) is likely to price its initial public offering of 55 million American depositary shares at the lower end of its price range of $17 to $20 per ADS, Reuters reported late Tuesday, citing two sources familiar with the matter.

The Japanese payment app company was targeting a valuation of up to $13.4 billion, the report said. Pricing is set to be finalized after market hours Wednesday as PayPay has closed its order book, which was oversubscribed more than five times, the report added.

PayPay did not immediately respond to MT Newswires' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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