Catenaa, Thursday, March 12, 2026- PayPay stock jumped over 11% in its trading debut on Thursday after the digital payments firm’s $879.8 million US IPO.
The company’s American depositary receipts traded at $17.82 each as of 2.00 p.m. in New York, above its IPO price of $16.
The ADRs are priced below a marketed range of $17 to $20. The trading gives the company a market value of around $12.1 billion, based on the outstanding shares listed in its filings.
PayPay sold 31.1 million ADRs, while an affiliate of SoftBank Vision Fund II, an investment arm of the Japanese conglomerate, sold 23.9 million. The ADRs each represent one common share.
The company had delayed the start of formal marketing amid uncertainty over conflict in the Middle East. The IPO attracted institutional investor orders for multiple times the available ADRs ahead of pricing.
Abu Dhabi Investment Authority and a unit of Qatar Investment Authority, along with an arm of payments giant Visa, agreed to buy as much as $220 million worth of shares in aggregate, the filings show.
The IPO includes a public offering without listing in Japan of about 8.7 million ADRs offered by Mizuho Financial Group at the same price as the US offering.
PayPay’s IPO is the largest by a Japanese company debuting in the US since mobile messaging service Line Corp. raised $1.3 billion in a listing in Tokyo and New York in 2016, according to data compiled by Bloomberg.
The business had a profit of ¥103.3 billion ($656 million) on ¥278.5 billion($1.75 billion) revenue in the nine months ended December versus a profit of ¥28.96 billion($180 million) on revenue of ¥220.4 billion($1.38 billion) in the same period a year earlier, according to the filing.
