00:00It's Benzinga bringing Wall Street to Main Street.
00:02Softbank-backed PayPay is targeting a valuation of up to $13.4 billion in a U.S. initial public
00:08offering as it moves ahead in volatile markets, Reuters. The company plans to sell nearly 55
00:14million American depository shares priced between $17 and $20 to raise about $1.1 billion at the
00:21top end. The IPO roadshow was postponed after global markets were jolted by the widening
00:26conflict in the Middle East. PayPay was founded in 2018 as a joint venture between Softbank
00:32and Yahoo Japan and entered the market by waiving transaction fees for up to three years for small
00:38and medium-sized merchants. It supported Japan's shift toward cashless payments by offering rebates
00:44and other incentives to drive use of its mobile app. PayPay had 72 million registered users at
00:50the end of... For all things money, visit Benzinga.com.
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