PayPay prices IPO below expectations at $16 per share. SoftBank's Japanese digital wallet subsidiary raised approximately $880 million through its US initial public offering, valuing the company at $10.7 billion. The pricing fell short of the original $17 to $20 target range as geopolitical tensions between the US, Israel, and Iran pressured market sentiment. PayPay, which boasts 72 million registered users in Japan, delayed its roadshow earlier this week to reassess conditions before proceeding. The offering marks SoftBank's first major US listing since Arm Holdings debuted at $54.5 billion in 2023, which has since appreciated to over $127 billion in market value. Despite near-term headwinds, analysts expect the US IPO market to rebound sharply this year, with Goldman Sachs forecasting record proceeds could reach $160 billion in 2026.
