OPay Raises $304 Million in U.S. IPO at $4 Billion Valuation

OPay raised $304 million in its U.S. initial public offering, selling 16 million American depositary shares at $19 each and reaching an implied valuation of about $4 billion. The shares began trading on the New York Stock Exchange under the ticker OPAY on Friday, October 30, 2026, according to reports on the debut. The offering price was at the lower end of the $19 to $21 range marketed to investors. OPay’s IPO prospectus said the company had about 50 million monthly active users as of July 31, 2026. Entities linked to SoftBank held a 6.6% stake before the offering, the filing said. OPay provides digital financial services, including payments, money transfers, savings and loans, through a single application. Founded in 2018, the Nigeria-focused company operates in emerging markets including Nigeria and Indonesia. The public offering gives the company access to capital markets as it expands its services and broadens its shareholder base. The company raised $400 million in 2021 at a valuation of $2 billion. The new valuation is approximately twice that earlier figure. The offering was priced amid market conditions described in reports as challenging for new listings, with...