PayPay (PAYP) Rockets 16% Higher on Dual Listing Ambitions

PayPay Corp. (NASDAQ:PAYP) is one of the 10 Must-Watch Stocks Right Now.

PayPay soared by 16.41 percent on Friday to finish at $21.14 apiece, as investor sentiment was fueled by reports that it is considering a dual listing in the future following the success of its US market debut, backed by strong investor appetite.

According to a report by Bloomberg, PayPay Corp. (NASDAQ:PAYP) remains open to listing its shares on the Tokyo Stock Exchange, albeit no specific details have been divulged.

The SoftBank-backed group debuted on the Nasdaq exchange only on Thursday, successfully raising $880 million in fresh funds.

PayPay (PAYP) Rockets 16% Higher on Dual Listing Ambitions

PayPay Corp. (NASDAQ:PAYP) successfully sold more than 54.98 million American depositary shares, representing its common shares.

Of the total, more than 31 million shares were offered by the company, while the other 23.9 million shares were sold by its existing shareholder, SVF II Piranha (DE) LLC, an investment fund also controlled by the SoftBank Group.

PayPay Corp. (NASDAQ:PAYP) is one of the leading financial technology companies in Japan, having registered 72 million users since it was launched by SoftBank and Yahoo Japan in 2018.

From its initial public offering price of $16 apiece, its second day of trading already saw the company surge by as much 37 percent.

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