LY Subsidiary PayPay Files for U.S. IPO and Parallel Japan Offering

LY Corporation ( (JP:4689) ) has issued an update.

PayPay Corporation, a consolidated subsidiary of LY Corporation, has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering of American depositary shares on the Nasdaq Global Select Market under the symbol PAYP. In parallel, PayPay plans a public offering of the same ADSs in Japan, while LY Corporation expects to retain PayPay as a consolidated subsidiary and does not anticipate a material impact on its own consolidated results or financial position from the listing.

The most recent analyst rating on (JP:4689) stock is a Buy with a Yen448.00 price target. To see the full list of analyst forecasts on LY Corporation stock, see the JP:4689 Stock Forecast page.

More about LY Corporation

LY Corporation is a Japanese technology group whose businesses include digital payments through its consolidated subsidiary PayPay Corporation. PayPay operates a cashless payment platform and related financial services, with a focus on expanding its presence in both the Japanese and international markets through capital markets access.

Average Trading Volume: 18,125,698

Technical Sentiment Signal: Hold

Current Market Cap: Yen2835.1B

Learn more about 4689 stock on TipRanks’ Stock Analysis page.