Geopolitical drama reportedly stalls IPO of SoftBank-backed PayPay
PayPay, Japan’s leading mobile payment app, has reportedly postponed its U. IPO due to market volatility and recent conflict in the Middle East.
The company was planning to release its IPO price range on Monday, March 2.
PayPay aimed for a valuation of at least ¥1.
5 trillion ($10 billion), Bloomberg reported.
In late 2024, Paytm sold its remaining stake to SoftBank for approximately $279 million.
Markets have been further shaken by U. strikes on Iran and the related upheaval of other countries in the region. In January, Kleiner Perkins-backed Motive Technologies, which develops dashboard cameras for long-haul trucks, postponed its IPO, The Information reported. Additionally, Clear Street, a tech brokerage, withdrew its IPO plans last month
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