SoftBank Group said Friday PayPay confidentially submitted a draft Form F-1 to the US Securities and Exchange Commission for a proposed listing of American depositary shares on a US exchange.

The schedule, size, and price have not been set, and any listing depends on SEC review and market and other conditions, the company said.

PayPay will remain a unit after any listing, and SBG does not expect a material impact on its consolidated results or financial position, it said.