OPay Suspends NYSE IPO Amid Regulatory Inquiry

OPay Limited announced the suspension of its initial public offering (IPO) on the New York Stock Exchange (NYSE) due to a regulatory inquiry. The inquiry pertains to a jurisdiction deemed immaterial to the company's core operations.

The IPO was priced at $19 per American depositary share (ADS), raising $304 million from 16 million ADSs, valuing the company at approximately $4 billion. Trading was set to begin on October 30, 2026, under the ticker OPAY.

OPay expressed confidence that the inquiry would be resolved and emphasized that the decision to halt the offering was made after discussions with underwriters. The underwriting agreement dated October 29, 2026, was mutually terminated.

OPay reassured stakeholders that this development does not reflect its business performance or regulatory standing and confirmed that its operations in Nigeria, Indonesia, Egypt, and Pakistan continue normally. The company processed $358 billion in gross transaction value in 2025, with a rise in monthly active users to 39 million.