PayPay Pops 19% in Nasdaq Debut After $880M IPO
Japanese digital payments giant PayPay lands the biggest US listing by a Japanese company in a decade.
PayPay just made a serious entrance on Wall Street. The Japanese digital payments company saw shares surge 19% on its first day of trading on the Nasdaq.
The IPO raised $879.8 million — making it the largest US stock exchange listing by a Japanese company in a decade. That's a statement.
PayPay Corp. operates in the digital payments space, and investors clearly liked what they saw. A nearly 20% pop on day one signals strong appetite for the stock, especially in a market that hasn't always been kind to new listings lately.
The debut puts PayPay in rare company among Japanese firms willing to cross the Pacific for a US listing. Most have opted to stay closer to home on the Tokyo Stock Exchange. PayPay bet big on American capital markets — and so far, that bet is paying off.