{"id":147876,"date":"2025-08-15T13:12:13","date_gmt":"2025-08-15T13:12:13","guid":{"rendered":"https:\/\/www.europesays.com\/us\/147876\/"},"modified":"2025-08-15T13:12:13","modified_gmt":"2025-08-15T13:12:13","slug":"softbank-owned-paypay-files-for-us-listing","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/147876\/","title":{"rendered":"SoftBank-owned PayPay files for US listing"},"content":{"rendered":"

Unlock the Editor\u2019s Digest for free<\/p>\n

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.<\/p>\n

PayPay has filed for a US listing that could value Japan\u2019s ubiquitous payments company at more than $10bn and help fund some of owner SoftBank\u2019s massive bets on artificial intelligence.<\/p>\n

The tech group founded by Masayoshi Son said on Friday that PayPay had applied to list American depositary shares in the US, but the \u201cexact schedule, size and price for the public listing have not yet been determined\u201d.<\/p>\n

People familiar with the offering said SoftBank<\/a> could aim to raise more than $2bn from the sale, which could put PayPay\u2019s valuation in excess of $10bn, in line with analysts\u2019 estimates. One of the people said the listing could happen by the end of the year.<\/p>\n

SoftBank owns roughly 34 per cent of the company through its Vision Fund 2 investment vehicle, which is backed by Son and the group.\u00a0SoftBank said it \u201cintends that PayPay will continue to be its subsidiary\u201d after the listing.<\/p>\n

One of the people familiar with the offering said the group could sell 20 per cent and bide its time before potentially reducing its stake further. The person added that a dual listing in Japan could be possible at a later date.<\/p>\n

Son has been aggressively investing in AI and has pledged $500bn to the Stargate project<\/a> to scale up US data centres and AI infrastructure with OpenAI, Oracle and Abu Dhabi\u2019s MGX state fund.<\/p>\n

At the same time, SoftBank is building capacity in chip design and production, centred around its ownership of Arm in the UK as well as stakes in Nvidia and the world\u2019s biggest chipmaker, TSMC.<\/p>\n

The group is leading a $40bn funding round for OpenAI<\/a> that values the ChatGPT maker at $300bn and is exploring a massive robotics and AI complex in Arizona.<\/p>\n

As Son continues to increase the ambition of his bets, SoftBank\u2019s shares have soared by almost 80 per cent this year to all-time highs, with investors betting on a pipeline of lucrative initial public offerings and that the group\u2019s stake in OpenAI will prove a valuable asset. The Vision funds have a \u201clate-stage portfolio valued at $45bn\u201d, SoftBank said this month.<\/p>\n

Recommended<\/p>\n

\"The<\/a><\/p>\n

\u201cWhat is happening now is that investors are factoring in big upcoming IPOs like Klarna and PayPay and at the same time are viewing SoftBank as a pure play on OpenAI,\u201d said David Gibson, an analyst at MST Financial. TikTok owner ByteDance is another holding viewed as approaching an IPO.<\/p>\n

Gibson added that the money raised from the PayPay listing could help fund the $30bn to $49bn that SoftBank will need in the next 12 to 18 months for Stargate and the planned increase in its OpenAI stake.<\/p>\n

PayPay runs a ubiquitous payment option \u2014 often one of the only options alongside cash \u2014 in Japan. Founded in 2018, it also offers banking and credit cards and now has more than 70mn users, according to the company.<\/p>\n

\u201cThis implies that more than one in every two people in Japan and approximately two out of every three smartphone users in Japan, are utilizing the service,\u201d PayPay said last month.<\/p>\n","protected":false},"excerpt":{"rendered":"Unlock the Editor\u2019s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this…\n","protected":false},"author":3,"featured_media":147877,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[611,158,67,132,68],"class_list":{"0":"post-147876","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile","8":"tag-mobile","9":"tag-technology","10":"tag-united-states","11":"tag-unitedstates","12":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115032958149762743","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/147876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=147876"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/147876\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/147877"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=147876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=147876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=147876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}