The World Today
MADRID, 15 (EUROPA PRESS)
Japanese group SoftBank has announced that its electronic payment services company PayPay has filed an application with the Securities and Exchange Commission (SEC) to list in the United States through American Depositary Shares (ADS).
According to a report on Friday, the exact timing, size, and price for the listing have not yet been set, but SoftBank intends for PayPay to remain its subsidiary.
The viability of the transaction will be subject to market conditions and depends on the completion of the SEC review process. SoftBank does not expect a "material impact" on its results or financial condition, if successful.
Bloomberg has reported, citing sources familiar with the matter, that PayPay is seeking a valuation of 1.5 trillion yen ( €8.73 billion ), which would represent the largest debut of a Japanese company on a North American stock exchange.
