SoftBank's PayPay moves closer to public markets with US IPO filing

Feb 12 (Reuters) – Japanese payments app PayPay, which is backed by SoftBank, on Thursday made public its paperwork for an initial public offering in the United States. The move sets the stage for the first U.S. listing of a SoftBank-majority investment since the blockbuster IPO of chip designer Arm Holdings in 2023. PayPay's stock market flotation was initially expected in December, but the longest-ever U.S. government shutdown delayed the regulatory review and pushed back the planned listing. Goldman Sachs, J.P. Morgan, Mizuho, and Morgan Stanley are the lead underwriters for the offering. PayPay will list on the Nasdaq under the symbol "PAYP". (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Maju Samuel)

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