SoftBank Selects Banks to Organize PayPay IPO
ByAinvest
Monday, Aug 11, 2025 3:21 pm ET1min read
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SoftBank has chosen Goldman Sachs, JPMorgan Chase, Mizuho Financial Group, and Morgan Stanley to assist in organizing the initial public offering (IPO) of its Japanese mobile payments app, PayPay, in the United States. This move comes after a failed attempt to list the app in Tokyo earlier this year [1].
PayPay, launched in 2018, has played a significant role in encouraging Japanese consumers to adopt digital payments, offering rebates on payments through its mobile app and providing financial services such as banking and credit cards. The app has grown to over 70 million registered users, representing more than half of Japan's smartphone users [2].
The IPO, which could raise more than $2 billion, is expected to take place in the final quarter of this year, according to unnamed sources. This potential listing follows the successful IPO of Arm Holdings, a SoftBank majority investment, in 2023, which was valued at $54.5 billion and has since increased to over $145 billion in market capitalization [1].
The selection of these investment banks is part of a broader trend of increased IPO activity in the United States, driven by strong tech earnings and improving trade negotiations. The IPO market has rebounded from earlier this year, when uncertainty over tariff policies stalled new listings [1].
SoftBank's ownership of PayPay is split among several entities, including its wireless carrier SoftBank Corp, the Vision Fund investment arm, and internet business LY Corp, a joint venture with Naver Corp [2].
The preparation for PayPay's IPO is progressing well, with SoftBank stating that the app is one of its late-stage portfolio companies in the pipeline for future public listings [3]. The company has been seeking an IPO for PayPay since May 2021, when the app had 36 million users, and has since grown its user base significantly.
References
[1] https://finance.yahoo.com/news/exclusive-softbank-selects-banks-us-230448990.html
[2] https://www.reuters.com/business/finance/softbank-selects-banks-us-ipo-payments-app-paypay-sources-say-2025-08-11/
[3] https://www.pymnts.com/news/ipo/2025/softbank-could-launch-paypay-united-states-ipo-q4/
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SoftBank has selected Goldman Sachs, JPMorgan Chase, Mizuho Financial Group, and Morgan Stanley to help organize its IPO in the US for its mobile payments app PayPay. The move follows the company's failed attempt to list the app in Tokyo earlier this year. The banks will help SoftBank raise funds for PayPay, which was launched in 2018.
Title: SoftBank Selects Banks for PayPay IPO in the USSoftBank has chosen Goldman Sachs, JPMorgan Chase, Mizuho Financial Group, and Morgan Stanley to assist in organizing the initial public offering (IPO) of its Japanese mobile payments app, PayPay, in the United States. This move comes after a failed attempt to list the app in Tokyo earlier this year [1].
PayPay, launched in 2018, has played a significant role in encouraging Japanese consumers to adopt digital payments, offering rebates on payments through its mobile app and providing financial services such as banking and credit cards. The app has grown to over 70 million registered users, representing more than half of Japan's smartphone users [2].
The IPO, which could raise more than $2 billion, is expected to take place in the final quarter of this year, according to unnamed sources. This potential listing follows the successful IPO of Arm Holdings, a SoftBank majority investment, in 2023, which was valued at $54.5 billion and has since increased to over $145 billion in market capitalization [1].
The selection of these investment banks is part of a broader trend of increased IPO activity in the United States, driven by strong tech earnings and improving trade negotiations. The IPO market has rebounded from earlier this year, when uncertainty over tariff policies stalled new listings [1].
SoftBank's ownership of PayPay is split among several entities, including its wireless carrier SoftBank Corp, the Vision Fund investment arm, and internet business LY Corp, a joint venture with Naver Corp [2].
The preparation for PayPay's IPO is progressing well, with SoftBank stating that the app is one of its late-stage portfolio companies in the pipeline for future public listings [3]. The company has been seeking an IPO for PayPay since May 2021, when the app had 36 million users, and has since grown its user base significantly.
References
[1] https://finance.yahoo.com/news/exclusive-softbank-selects-banks-us-230448990.html
[2] https://www.reuters.com/business/finance/softbank-selects-banks-us-ipo-payments-app-paypay-sources-say-2025-08-11/
[3] https://www.pymnts.com/news/ipo/2025/softbank-could-launch-paypay-united-states-ipo-q4/
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