SFTBY - SoftBank weighing a U.S. listing for PayPay unit - report
2023-07-12 09:30:46 ET
- SoftBank ( OTCPK:SFTBY ) ( OTCPK:SFTBF ) ( OTCPK:SOBKY ) is contemplating taking its PayPay business public through a U.S. listing, in what could add to the tech conglomerate's U.S. listings including a potential U.S. IPO of SoftBank's ARM chip design unit, according to a media report.
- Taking the payments technology unit public at a New York exchange is expected to bring a higher valuation than a Japanese listing, Reuters reported, citing one source familiar with the matter. The news organization said three sources told it that SoftBank is considering the U.S. listing.
- In SoftBank's ( OTCPK:SFTBY ) fiscal Q4 2023 earnings call CFO Kazuiko Fujihara said PayPay is looking at a future listing , but gave no details. In November, a SoftBank executive said that PayPay is valued at just under JPY 1T ($7.17B), Reuters reported.
- SoftBank ( OTCPK:SFTBY ) American depositary receipts rose 0.3% in Wednesday premarket trading.
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SoftBank weighing a U.S. listing for PayPay unit - report