Digital payments platform PayPay, operated by SoftBank Group, is aiming for a valuation of as much as $13.4 billion through a planned initial public offering in the United States.
According to regulatory documents released on Monday, the company intends to sell approximately 55 million American depositary shares priced between $17 and $20 each.
Following the offering, SoftBank-affiliated shareholders are expected to maintain strong control of the company with voting rights of roughly 91.8%, assuming underwriters do not purchase additional shares through their allocation option.
Founded in 2018, PayPay has expanded rapidly across Japan. By the end of 2025, the platform reported about 72 million registered users, covering nearly three-quarters of the country’s smartphone population.
The Tokyo-based firm is part of the broader SoftBank ecosystem led by Masayoshi Son. The group also announced plans to invest an additional $30 billion into OpenAI during the year, increasing its total funding commitment to approximately $64.6 billion.
After completing the planned investment, SoftBank Group is projected to hold around a 13% ownership stake in OpenAI.
Frequently Asked Questions
How many shares will be offered in the IPO?
The company plans to offer around 55 million American depositary shares priced between $17 and $20 each.
What valuation is PayPay seeking in its IPO?
PayPay is aiming for a valuation of up to $13.4 billion in its planned U.S. stock market listing.
Will SoftBank still control PayPay after the IPO?
Yes, SoftBank-related entities are expected to retain about 91.8% of the voting power
How large is PayPay’s user base?
The payments app reported about 72 million registered users in Japan by the end of 2025.
How is SoftBank involved with OpenAI?
SoftBank plans to invest an additional $30 billion into OpenAI, which would give it roughly a 13% ownership stake.
