PayPay Corp

424B4 priced

PayPay Corp. is conducting an initial public offering (IPO) of 54,987,214 American Depositary Shares (ADSs), with 31,054,254 ADSs offered by the company and 23,932,960 ADSs by a selling shareholder. The IPO price is set at $16.00 per ADS, with proceeds totaling $879.79 million. The ADSs will be listed on Nasdaq under 'PAYP.' Cornerstone investors have indicated interest in purchasing $220 million of ADSs. The offering includes underwriter over-allotment options and highlights PayPay's position as a leading digital finance platform in Japan, with a focus on payments and financial services. The company will be a 'controlled company' post-offering due to SoftBank Group Corp.'s majority ownership.

EFFECT effective

PayPay Corp's IPO became effective on March 11, 2026, with the registration statement on Form F-1. The company is registering American Depositary Shares (ADS) and common shares for listing on The Nasdaq Stock Market. The previous 8-A12B filing initiated the registration process under Section 12(b) of the Securities Exchange Act, while the current F-1 form confirms the effective registration and incorporation of the prospectus details.

8-A12B effective

PayPay Corp's 8-A12B filing registers American Depositary Shares (ADS) and common shares for listing on Nasdaq, referencing a prior F-1 registration statement. The filing confirms ADSs represent common shares and are exempt from certain SEC regulations under Rule 12a-8. It notes no exhibits are required due to the securities' exchange listing and non-12(g) registration status. The previous FWP outlined a Japanese public offering of ADSs with pending listing approval and conditional pricing details.

FWP supplemental

PayPay Corp's current FWP filing outlines the proposed offering of American Depositary Shares (ADS) through a book-building process, with the offering price and terms subject to future amendments. The company has applied for Nasdaq listing but hasn't received approval. The filing emphasizes that the registration statement is not yet effective, and the offering remains pending. Key details include the potential for amendments to the offering terms, the role of underwriters, and the company's plan to amend its articles of incorporation regarding share transfer restrictions and minimum trading units.

F-1/A amended

PayPay Corp's F-1/A filing updates its initial public offering details, including the issuance of 54,987,214 American Depositary Shares (ADSs) at an anticipated price range of $17.00 to $20.00 per ADS. The filing highlights the participation of Cornerstone Investors committing up to $220 million, a stock split effective November 15, 2025, and the consolidation of PayPay Securities Corporation and PayPay Bank Corporation under common control. The company anticipates becoming a 'controlled company' under Nasdaq rules due to SoftBank Group Corp.'s majority ownership, impacting corporate governance requirements.

F-1 filed

PayPay Corporation, Japan's leading financial technology company, is conducting an initial public offering (IPO) of American Depositary Shares (ADSs) representing common stock. The offering includes 15.39 trillion in Payment Segment GMV for the year ended March 31, 2025, with consistent over 20% annual GMV growth since 2019. The IPO aims to list ADSs on Nasdaq under the symbol 'PAYP,' with underwriters including Goldman Sachs, J.P. Morgan, and others. PayPay operates a scalable digital finance platform integrating payments, banking, credit, and investments, serving 72 million registered users in Japan. The company anticipates becoming a 'controlled company' under Nasdaq rules due to SoftBank Group Corp.'s majority ownership.

DRS/A amended

PayPay Corp's DRS/A filing outlines its initial public offering (IPO) of American Depositary Shares (ADSs), representing common stock. The offering includes shares from both the company and selling shareholders, with an anticipated price range per ADS. The filing highlights PayPay's growth in digital payments and financial services, including its market share in Japan and user metrics. It also notes the potential listing on Nasdaq under the symbol 'PAYP' and emphasizes risks associated with being a 'controlled company' under Nasdaq rules.

DRS/A amended

PayPay Corp's DRS/A filing details an upcoming initial public offering (IPO) of American Depositary Shares (ADSs), representing common stock. The offering includes shares from both the company and selling shareholders, with an anticipated price range of US$X to US$X per ADS. The filing highlights PayPay's growth in transaction volume (GMV) and EBITDA, with a focus on payments, banking, and financial services. The company plans to list on Nasdaq under the symbol 'PAYP' and notes potential implications of being a 'controlled company' due to SoftBank Group Corp.'s ownership stakes.

DRS/A amended

PayPay Corp's DRS/A filing reflects an amended registration statement for its upcoming IPO, incorporating additional sections such as detailed financial summaries, capitalization, and dividend policy. The filing emphasizes the company's focus on digital payments and financial services, with plans to list ADSs on Nasdaq. Key updates include structural changes to the prospectus and expanded disclosures around corporate governance and risk factors.

DRS filed

PayPay Corp. is conducting an initial public offering (IPO) of American Depositary Shares (ADSs) representing common stock, aiming to list on Nasdaq. The company, Japan's leading fintech, operates a digital finance platform integrating payments, banking, and financial services. Recent acquisitions of PayPay Securities and PayPay Bank Corporations under SoftBank Group's control expanded its financial services capabilities. The filing highlights risks related to its controlled company status, reliance on the PayPay app, and market competition.