OPay Plans NGX Listing Amid $4 Billion US IPO Target

OPay, a Nigerian fintech giant, is preparing to list its shares on the Nigerian Exchange (NGX), marking a potentially significant event in Nigeria's capital market history. While the company has not officially confirmed the listing, sources indicate that an announcement is expected soon.

Key details such as timing, valuation, and the percentage of shares to be offered remain undisclosed. Concurrently, OPay is also planning a potential initial public offering in the United States, aiming for a valuation of approximately $4 billion.

The Nigerian listing may occur alongside the US IPO or under a dual-listing arrangement. OPay has experienced rapid growth, processing a gross transaction value of $358 billion in 2025, a 115% increase from $166.2 billion in 2024.

Revenue surged by 161% to $536.3 million, with Nigeria contributing 88.1% of this revenue. Market analysts suggest that an OPay listing could enhance Nigeria's technology and capital markets, providing local investors with direct exposure to a leading fintech company.