PayPay Corp

PayPay Corp (PAYP) priced its initial public offering on Mar 12, 2026 at $16.00 per ADS, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $10.7B. Goldman Sachs was lead-left underwriter, joined by J.P. Morgan, Mizuho and Morgan Stanley and others. Simpson Thacher and Latham & Watkins advised the company and Davis Polk advised the underwriters.

PayPay Corp offers a digital finance platform in Japan that includes payments services and a range of financial services for consumers and businesses, using payments to drive user engagement and cross-selling of financial products.

Status

IPO

Ticker

PAYP

Exchange

Nasdaq Global Select

Priced

Mar 12, 2026

IPO price

$16.00 per ADS

Market cap at IPO price

$10.7B

First filed

Feb 12, 2026

Underwriters

Goldman Sachs, J.P. Morgan, Mizuho, Morgan Stanley, Citigroup, Jefferies, BofA Securities, Societe Generale, Wolfe Research, Nomura, Cantor and Daiwa

Company counsel

Simpson Thacher and Latham & Watkins

Underwriters' counsel

Davis Polk

Sector

Business services

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.