PayPay, a mobile payments provider and unit of LY (TYO:4689), has submitted a draft registration statement to the U.S. Securities and Exchange Commission for a planned listing of American depositary shares, according to a Friday filing on the Tokyo Stock Exchange.
The company said the timing, size and price of the offering have not been determined and the listing remains subject to market conditions and regulatory review. LY expects PayPay to remain a consolidated subsidiary after the listing.
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