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LY Corporation ( (JP:4689) ) has issued an update.
PayPay Corporation, a consolidated subsidiary of LY Corporation, has completed its initial public offering on the Nasdaq Global Select Market, issuing a total of 63,235,295 American depositary shares at US$16 each. The deal included the full exercise of the underwriters’ overallotment option and a Japanese public offering tranche, generating net proceeds of JPY 94.6 billion for PayPay while also enabling SoftBank-controlled SVF II Piranha (DE) LLC to sell a substantial stake.
The ADSs began trading under the ticker “PAYP,” with Goldman Sachs, J.P. Morgan, Mizuho Securities USA, and Morgan Stanley acting as joint bookrunners for the transaction. LY Corporation will retain PayPay as a consolidated subsidiary after the listing and expects no material impact on its own consolidated financial results, suggesting the IPO primarily enhances PayPay’s capital base and market visibility without significantly altering LY’s financial profile or control structure.
The most recent analyst rating on (JP:4689) stock is a Hold with a Yen450.00 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 with a significant presence in digital services and payments, operating through subsidiaries such as PayPay Corporation. PayPay focuses on cashless settlement solutions and mobile payments, positioning itself as a key player in Japan’s rapidly growing digital finance and fintech ecosystem.
Average Trading Volume: 22,531,456
Technical Sentiment Signal: Sell
Current Market Cap: Yen2599.3B
Find detailed analytics on 4689 stock on TipRanks’ Stock Analysis page.