New York is seen as a more attractive destination than Tokyo given the higher valuations tech companies generally achieve, one of the sources said. The timing of the listing was still unclear as money-losing PayPay needs to first demonstrate a clear path to profitability, the source said.
TOKYO (Reuters) - SoftBank is considering a U.S. listing for its PayPay payments business, three sources familiar with the matter said, in what could mark another American listing for Masayoshi Son s sprawling tech conglomerate along with chip designer Arm.
SoftBank has previously expressed an aim to list PayPay, with one executive saying in November it was worth just under 1 trillion yen ($7.17 billion). That the conglomerate is considering a U.S. listing has not been previously reported.
Japanese shares were the worst
performers in Asia on Wednesday, with the Nikkei sliding to a
one-month low as a firmer yen applied brakes on a market rally,
although the prospect of a potential.
SoftBank is considering a
U.S. listing for its PayPay payments business, three sources
familiar with the matter said, in what could mark another
American listing for Masayoshi Son s sprawling tech.