Shares of PayPay Corp. rose 19% in its Nasdaq debut after the Japan-based digital payments firm completed a US$879.8 million IPO.

American depositary receipts traded at US$18.10 as of 12:50 p.m. in New York, above the US$16 IPO price and below the marketed US$17 to US$20 range.

The listing values PayPay at about US$12.1 billion based on outstanding shares listed in its filings.