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

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

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

IPOs and Secondary Offerings

Equity Capital Markets

<ul>
<li>PayPay Corporation filed for a U.S. IPO on February 12, targeting a potential March debut, backed by SoftBank and a top-tier global underwriting syndicate.</li>
<li>With 72 million registered users and ¥15.39 trillion in FY2025 GMV, PayPay leads Japan’s cashless market with over 20% sustained annual transaction growth.</li>
<li>Expansion into banking and securities, improving profitability, and strong eKYC penetration position PayPay as a scaled, integrated digital finance ecosystem amid accelerating cashless adoption.</li>
</ul>


PayPay Corporation filed for a U.S. IPO on February 12, targeting a potential March debut, backed by SoftBank and a top-tier global underwriting syndicate.
With 72 million registered users and ¥15.39 trillion in FY2025 GMV, PayPay leads Japan’s cashless market with over 20% sustained annual transaction growth.
Expansion into banking and securities, improving profitability, and strong eKYC penetration position PayPay as a scaled, integrated digital finance ecosystem amid accelerating cashless adoption.


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