Worth reading
54Recurring
Scored from 3 of 5 sectionsDirection
Neutral
Direction inferred from the company’s description.Scale
946
¥100 million (PayPay's estimated net proceeds)Wording
Definitive
How definitive the wording is.Details of issuance or disposal
Initial public offering and secondary offering of American depositary shares in the United States
Who receives how much
54,987,214 ADSs in the initial offering; up to 8,248,081 ADSs pursuant to the exercise of the option to purchase additional ADSs. Total offering size of 63,235,295 ADSs
No specific prospective allottee, as this was a public offering. The selling shareholder is SVF II Piranha (DE) LLC, which is offering 23,932,960 ADSs
The lower thin line represents the existing number of shares to which these shares will be added.
US$16 per ADS
Amount of funds to be raised
PayPay's estimated net proceeds: ¥94.6 billion (US$603 million). Total amount payable: Not disclosed
Offering structure
Underwriter / lead underwriter
Goldman Sachs & Co. LLC, J.P. Morgan, Mizuho Securities USA LLC, and Morgan Stanley & Co. LLC (joint book-running managers)
Overallotment
Option to purchase up to 8,248,081 additional ADSs. Part of the total offering of 63,235,295 ADSs, including the 23,932,960 ADSs offered by the selling shareholder
Basis for determining the amount to be paid
US$16 per ADS. The closing price and average share price used as benchmarks, as well as the discount or premium rate, were Not disclosed
Impact on Business Performance
The company has determined that the initial public offering will not have a material effect on its consolidated results of operations or financial position
| Item | Details |
|---|---|
| Type of issuance or disposal | Initial public offering and secondary offering of American depositary shares in the United States |
| Number of shares to be issued or disposed of | 54,987,214 ADSs in the initial offering; up to 8,248,081 ADSs pursuant to the exercise of the option to purchase additional ADSs. Total offering size of 63,235,295 ADSs |
| Issue price and disposal price | US$16 per ADS |
| Amount of funds to be raised | PayPay's estimated net proceeds: ¥94.6 billion (US$603 million). Total amount payable: Not disclosed |
| Intended allottee | No specific prospective allottee, as this was a public offering. The selling shareholder is SVF II Piranha (DE) LLC, which is offering 23,932,960 ADSs |
| Basis for determining the amount to be paid | US$16 per ADS. The closing price and average share price used as benchmarks, as well as the discount or premium rate, were Not disclosed |
| Underwriter / lead underwriter | Goldman Sachs & Co. LLC, J.P. Morgan, Mizuho Securities USA LLC, and Morgan Stanley & Co. LLC (joint book-running managers) |
| Overallotment | Option to purchase up to 8,248,081 additional ADSs. Part of the total offering of 63,235,295 ADSs, including the 23,932,960 ADSs offered by the selling shareholder |
| Impact on Business Performance | The company has determined that the initial public offering will not have a material effect on its consolidated results of operations or financial position |
Items this document does not state (19)
Total issue valueEstimated issuance expensesSpecific use of fundsPayment dateIntended allottee's holding policyDilution RateTotal number of issued sharesExercise priceExercise periodNumber of Stock Acquisition RightsTransfer restriction periodConditions for lifting transfer restrictionsReason for acquisition without considerationCategories and Number of Persons CoveredTotal Stock-Based CompensationStock Split RatioProcedures under the Corporate Code of ConductMost recent equity financingMajor shareholders after the offering
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The initial public offering appears to have been conducted to complete PayPay's listing and public offering on a US securities exchange. The company has determined that the offering will not have a material effect on its consolidated results of operations or financial position.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.