PayPay, SoftBank Seek $1.1 Billion in Payments Firm's US IPO

AI BRIEFING

• ⬤ Tokyo-based PayPay is offering 31.1 million American depositary receipts, an affiliate of SoftBank Vision Fund II is selling 23.9 million ADRs.
• ⬤ The US IPO is valued at $1.1 billion.
• ⬤ PayPay and SoftBank Vision Fund II plan to use the funds for various purposes, including business expansion and debt repayment.