Qatar Holdings, an investment arm of Qatar Investment Authority, the Abu Dhabi Investment Authority, and Visa (V) are preparing to invest more than $200 million as cornerstone investors in the U.S. initial public offering of Softbank’s (SFTBY) PayPay, according to a Reuters report.
Digital payments provider PayPay is targeting a valuation of as much as $14 billion in an IPO, according to the Reuters report on Friday. PayPay plans to list on the Nasdaq next month.
PayPay, SoftBank, Qatar Holdings, Visa and ADIA did not immediately respond to requests for comment from Reuters.
PayPay filed its preliminary prospectus for a U.S. IPO earlier this month. It expects to trade on the Nasdaq under the symbol “PAYP”.