PayPay, SoftBank Raise $879.8 Million in Payments Firm’s US IPO

PayPay Corp. and an arm of SoftBank Group Corp. raised $879.8 million in the digital payments firm’s US IPO, in the biggest listing for a Japanese company on a US stock exchange in a decade.

Tokyo-based PayPay priced the initial public offering of American depositary receipts at $16 apiece, according to a statement, below a marketed range of $17 to $20. The ADRs each represent one common share.