OPay seeks up to $336m in a New York listing, with $270m already lined up
The Nigeria-focused fintech, used by about 50 million people a month, could be valued at $4.4bn. Standard Bank is also buying a stake of up to $200m.
Lagos — OPay, the payments and lending company used by about 50 million people a month in Nigeria, plans to raise up to $336 million in an initial public offering on the New York Stock Exchange under the ticker OPAY, according to an amended filing dated 23 October and reported by Techpoint Africa.
The offer
- 16 million American Depositary Shares at $19 to $21 each; underwriters may take 2.4 million more, lifting the raise to $386.4 million.
- About $4.42 billion valuation at the top of the range, more than double the $2 billion of its 2021 funding round.
- Nine investors have indicated interest in up to $270 million, about 80% of the deal, including the Africa-focused Coronation Africa Frontiers Fund (up to $50 million). The indications are not binding.
- Stanbic Africa Holdings, part of South Africa's Standard Bank Group, will buy up to $200 million of shares in a parallel private placement, and Standard Bank's Lungisa Fuzile is to join OPay's board.
The numbers behind it
Revenue in the first half of 2026 rose to $467.1 million, from $197.5 million a year earlier, and net income to $90.9 million, from $21.7 million. Lending is now its largest business. OPay also plans a secondary listing on the Nigerian Exchange, subject to approval. The pricing date has not been set.
Source: Techpoint Africa, 24 October 2026.
