US Stock Market | SoftBank’s PayPay plans to price US IPO around low end of range, sources say
The initial public offering of SoftBank’s PayPay is likely to price around the low end of its marketing range as war in the Middle East roil markets, said two people familiar with the matter.
The IPO book was covered more than five times, one of the people said. It has now closed and pricing will be finalised after U.S. market hours on Wednesday, the person said.
The Japanese payment app operator was offering 55 million American depositary shares, priced $17 to $20 apiece, a filing this month showed, targeting a valuation of up to $13.4 billion.
