TOKYO, Mar 12 (Pulse News Wire) – LY Corporation (4689.T) announced that its subsidiary PayPay Corp. set the offering price for American Depositary Shares (ADS) at $16 per share for its upcoming initial public offering (IPO) in the United States.
The IPO, scheduled to commence on March 11, 2026 (US time), will offer a total of 54,987,214 ADS, comprising 31,054,254 ADS offered by PayPay and 23,932,960 ADS sold by SVF II Piranha (DE) LLC, an investment fund ultimately controlled by SoftBank Group Corp. Goldman Sachs & Co. LLC, J.P. Morgan, Mizuho Securities USA LLC, and Morgan Stanley & Co. LLC are serving as joint book-running managers for the offering.
Additionally, part of the ADS issuance will take place domestically within Japan, with 8,653,079 ADS being sold through domestic distribution. The domestic sale will also be priced at $16 per ADS. The NASDAQ Global Select Market expects trading to begin under the symbol "PAYP" (US time). In conjunction with the IPO, PayPay granted the underwriters an option to purchase up to 8,248,081 additional ADS to cover any oversubscription. The IPO is expected to conclude on March 13, 2026 (US time), subject to customary closing conditions.
Following the completion of the IPO, LY Corporation anticipates PayPay will remain a consolidated subsidiary without significantly impacting the group's consolidated performance or financial status.
🟢 Confidence: High AI-translated content.