OPay Secures $304M in NYSE IPO, Eyes Nigerian Listing

OPay, a fintech company backed by SoftBank, raised $304 million through its initial public offering on the New York Stock Exchange, marking its entry into the US public market with an estimated valuation of $4 billion. The company offered 16 million American depositary shares at $19 each, the lower end of its initial price range of $19 to $21, with trading commencing under the ticker symbol OPAY.

Citigroup, Deutsche Bank, Standard Bank, and China International Capital Corporation served as joint book-running managers for the offering. OPay granted underwriters a 30-day option to purchase an additional 2.4 million shares, which could generate an additional $45.6 million if fully exercised.

The offering is expected to close on 2 November, subject to customary closing conditions. OPay plans to pursue a secondary listing on the Nigerian Exchange Limited, allowing local investors to acquire stakes in the company.

In 2025, OPay processed $358 billion in gross transaction value, with monthly active users increasing to 39.3 million.