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SoftBank mulls US listing for PayPay payments business
Mint Mumbai
|July 13, 2023
SoftBank is considering a US listing for its PayPay payments business, three people familiar with the matter said, in what could mark another American listing for Masayoshi Son's sprawling tech conglomerate along with chip designer Arm.
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New York is seen as a more attractive destination than Tokyo for listings given the higher valuations tech companies generally achieve there, one of the people said. The timing of the listing was still unclear as money-losing PayPay needs to first demonstrate a clear path to profitability, the cited person above said.
SoftBank has previously set a PayPay listing as a goal, with one executive saying in November it was worth just under 1 trillion yen ($7.17 billion). That the conglomerate is considering a US listing has not been previously reported.
This story is from the July 13, 2023 edition of Mint Mumbai.
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