TOKYO, Mar 30 (Pulse News Wire) – LY Corporation (4689.T) announced today that its subsidiary PayPay Corp completed its initial public offering (IPO) of American Depositary Shares (ADS) in the United States on March 13, 2026. Each ADS was priced at $16, representing a total issuance of 63,235,295 ADSs.
Additionally, SVF II Piranha (DE) LLC, a SoftBank Group-controlled investment fund, sold 54,835,295 ADSs during the offering. The entire additional purchase option granted to underwriters to cover potential oversubscriptions was exercised on March 27, 2026, also at $16 per ADS. Following adjustments for underwriting fees and estimated offering-related expenses, PayPay's net proceeds from the offering amounted to approximately $1,011.76 million (JPY ¥148.9 billion). Trading of the ADSs began on the Nasdaq Global Select Market under the ticker symbol PAYP on March 12, 2026. Goldman Sachs & Co. LLC, J.P. Morgan, Mizuho Securities USA LLC, and Morgan Stanley & Co.
LLC served as joint book-running managers for the offering. In conjunction with the US offering, PayPay conducted a domestic sale of 8,400,000 ADSs within Japan at the same price point. Mizuho Securities Co., Ltd. acted as the application handling securities firm, while PayPay Securities Co., Ltd. served as the sales agent for the domestic offering. Following the completion of the offering, PayPay remains a consolidated subsidiary of LY Corporation. The company does not anticipate any significant impact on its consolidated performance or financial position due to this transaction.
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