SoftBank-backed fintech company OPay has raised $304 million from its initial public offering (IPO) in the United States, according to Reuters.
The offering marks the Nigerian-focused fintech’s debut on the New York Stock Exchange (NYSE), giving the company an estimated valuation of approximately $4 billion.
The company confirmed the development on Friday, October 30, announcing the pricing of its IPO, which involved the sale of 16 million American depositary shares (ADSs) to investors.
“OPay today announced the pricing of its initial public offering of 16,000,000 American Depositary Shares (“ADSs”) to be sold by OPay at a public offering price of $19.00 per ADS,” the company said in a statement seen by TechMedia Africa.
The listing represents a significant step in OPay’s expansion strategy, allowing the fintech to access international capital markets as digital financial services businesses increasingly seek public investors to support their growth.
OPay secures $304 million as US investors value fintech at $4 billion
OPay priced its shares at $19 apiece, settling at the bottom of the $19 to $21 price range outlined ahead of the offering. The 16 million shares translate to gross proceeds of $304 million and an estimated company valuation of $4 billion.
The public offering brings together some of the world’s major financial institutions, with Citigroup, Deutsche Bank, Standard Bank and China International Capital Corporation (CICC) participating as underwriters. The company’s shares trade on the NYSE under the symbol OPAY.
- Among its existing investors, SoftBank entities held a 6.6% stake in OPay before the IPO, according to its registration documents.
The fundraising also comes against a challenging backdrop for technology companies seeking public market capital. Persistent inflation and a retreat from AI-related stocks have unsettled investors, forcing some businesses to reconsider their listing timelines as market volatility makes pricing and demand more difficult to predict.
OPay’s successful offering therefore provides an indication of the appetite for established digital financial services businesses even as broader technology market sentiment remains uncertain.
OPay’s US listing follows growing interest in Nigerian stock market
OPay’s plans to access the US public market began attracting attention in May 2026, when reports emerged that the fintech was preparing for an IPO that could value it at approximately $4 billion.
The proposed offering also drew interest from established financial institutions seeking exposure to the fast-growing African digital finance market.
- In August, reports indicated that South Africa’s Standard Bank Group was in discussions to acquire an equity stake in OPay ahead of its planned US listing. The potential investment would give the banking group exposure to one of Africa’s expanding digital payments businesses.
But OPay’s ambitions have not been limited to international investors. Alongside its US listing plans, the fintech has also been working towards securing a presence on Nigeria’s domestic stock market.
In August, it emerged that OPay was considering a listing on the Nigerian Exchange Limited (NGX), potentially creating an opportunity for local investors to own shares in one of the country’s largest fintech businesses.
- The company confirmed the development in October, disclosing that its board and shareholders had approved plans to pursue a secondary listing on the NGX after completing its primary listing in the United States.
The proposed arrangement would give OPay access to Nigeria’s capital market while retaining its position on the NYSE, broadening the pool of investors who can participate in its ownership.
The move also places OPay among a growing number of African-focused digital financial services companies turning to international stock exchanges to expand their investor base.
African fintechs turn to international stock markets
OPay’s US listing follows a similar move by Airtel Money, the mobile financial services subsidiary of telecommunications group Airtel Africa, which recently debuted on the London Stock Exchange (LSE).
Airtel Money initially targeted a fundraising of approximately $800 million through its proposed IPO, although the final offering was structured around the sale of existing shares by its shareholders rather than the issuance of new shares by the company.
The shares were priced at £1.96 each, giving Airtel Money an estimated market capitalisation of £5.3 billion, equivalent to approximately $7 billion.
Trading commenced conditionally on October 9, while the company’s shares were admitted to unconditional trading on the LSE’s Main Market on October 14, 2026, under the ticker AMC.
The listing provides another example of how African digital financial services businesses are using international capital markets to attract global investors and establish a broader shareholder base as the continent’s digital economy expands.
