Softbank's PayPay pops after braving tough IPO market on Thursday

PayPay

13/03/2026 12:12

**  PayPay's PAYP.O shares up 20% to $21.80 premarket, a day after Japanese payments app's Nasdaq debut amid a scarcity of new listings

** SoftBank Group 9984.T-backed firm's stock closed at $18.16 on Thurs, notching debut-day gain of 13.5%, after IPO of about 55 mln ADSs priced one dollar below the expected range at $16 for roughly $880 mln total proceeds

** PAYP pushed ahead with the offering even as the Middle East conflict continues to rock global markets, and while some other IPO hopefuls have opted to delay their listing plans

** The deal marks the first U.S. listing of a SoftBank majority ​investment since blockbuster 2023 IPO of chip designer Arm ARM.O

** Goldman Sachs, JP Morgan, Mizuho and Morgan Stanley led a 20-firm underwriting group for PAYP's IPO

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))