SoftBank's PayPay is planning to price its initial public offering (IPO) near the low end of its marketing range. This adjustment comes as ongoing tensions in the Middle East are creating market volatility.
The Japanese payment app operator's IPO book has reportedly been oversubscribed, with demand exceeding offering targets by more than five times. The book has now closed, and final pricing is expected after U.S. market hours. PayPay had been offering 55 million American depositary shares, with an initial price target between $17 and $20 per share, aiming for a valuation up to $13.4 billion.