OPay lists on NYSE, raises $304m in IPO at $4 billion valuation

Opay, a Nigerian fintech company backed by SoftBank, has officially launched on the New York Stock Exchange (NYSE). The company issued 16 million shares, known as American depositary shares (ADSs), at a price of $19 per share. This valuation puts Opay's value at around $4 billion. The IPO process began on October 30, following Opay's registration statement submission with the US Securities and Exchange Commission (SEC) on October 9.

The shares are traded under the ticker symbol OPAY. Investment banks Citigroup, Deutsche Bank, Standard Bank, and China International Capital Corporation (CICC) acted as joint book-running managers for the offering. The IPO also provides an opportunity for Opay to broaden its investor base beyond its existing investors. SoftBank entities held a 6.6% stake in Opay prior to the offering.

The fintech company revealed its plans for a US listing in May 2026, with interest from financial institutions increasing. South Africa’s Standard Bank Group was reportedly exploring an investment in Opay before the IPO. This move will provide Nigerian investors access to the company while allowing Opay to continue its primary presence in the US capital market.

Opay's entry into the public markets coincides with significant growth in its transaction volumes and financial assets, indicative of the expansion of its payments and digital financial services business. As of June 30, 2026, Opay reported a short-term investment portfolio worth $532.94 million, with a significant portion of the investments managed by Nigerian asset management companies.