US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

US IPOs and Secondary Offerings

PayPay (PAYP) Post-IPO and Payment Companies Update

BNPL Companies; Risk on Phase, Stick with Buy on Klarna (KLAR US), Lifting Short on Affirm (AFRM US)

Payment Companies Update: Reining in Positive Recommendations

PayPay Corporation (PAYP): Japanese Fintech Draws Strong Orders Amidst Global Uncertainties

PayPay Corporation (PAYP): Japanese Fintech Sets Terms for IPO Amidst Broad Market Volatility

PayPay Corporation (PAYP): Peeking at the IPO Prospectus of a Japanese Fintech

IPOs and Secondary Offerings

Equity Capital Markets

<ul>
<li>PayPay priced 54.99M shares at $16, below its $17–$20 range, reflecting cautious pricing amid volatile markets and heightened geopolitical uncertainty.</li>
<li>Shares opened strongly at $19 and closed at $18.16, remaining above issue all day despite a 1.5% decline in the broader market.</li>
<li>Discounted pricing highlights valuation sensitivity in the IPO market as private companies transition to public markets during a challenging macro environment.</li>
</ul>


PayPay priced 54.99M shares at $16, below its $17–$20 range, reflecting cautious pricing amid volatile markets and heightened geopolitical uncertainty.
Shares opened strongly at $19 and closed at $18.16, remaining above issue all day despite a 1.5% decline in the broader market.
Discounted pricing highlights valuation sensitivity in the IPO market as private companies transition to public markets during a challenging macro environment.


PayPay Corporation (PAYP):  Discounted Japanese Fintech Debuts Strongly Despite Pricing Below Range