Investing.com — OPay Limited, a digital financial platform focused on emerging markets, is seeking to raise up to $336 million in an initial public offering on the New York Stock Exchange.
According to an updated regulatory filing with the U.S. Securities and Exchange Commission, the Singapore-headquartered fintech plans to market 16 million American depositary shares (ADSs) at a price range of $19 to $21 per share. Each ADS represents 10 ordinary shares of the company, which has applied to list under the ticker symbol “OPAY.”
The offering is backed by strong preliminary demand, with a group of cornerstone and existing institutional investors indicating non-binding interests to purchase up to $270 million of the ADSs at the public offering price. The buyer group includes RWC Asset Management (Redwheel), Coronation Africa Frontiers Fund, Sundt AS, Ludvig Lorentzen AS, Ninety One Asia, and SoftBank’s SBVA entity, among others.
Against that backdrop, OPay is also establishing a broader strategic foothold in Africa through a concurrent private placement with Stanbic Africa Holdings Limited, a subsidiary of Standard Bank Group. Under the agreement, Stanbic will acquire ordinary shares for an aggregate subscription price of up to $200 million, alongside a memorandum of understanding to explore commercial collaborations across digital banking, payments, and lending.
The capital raise reflects a broader transformation in OPay’s financial performance as it scales its integrated payments, credit, and digital wallet ecosystem across Nigeria, Indonesia, Egypt, and Pakistan. The company processed $558 billion in gross transaction volume across 90.1 billion transactions during the 12 months ended June 30, 2026, driven by a mobile user base that reached 50.1 million monthly active users.
That operational expansion has accelerated revenue growth while shifting the business into net profitability. OPay generated $467.1 million in total revenue for the first six months of 2026, up from $197.5 million in the prior-year period, while net income rose to $90.9 million from $21.7 million over the same timeframe.
Following its primary listing on the NYSE, OPay plans to pursue a secondary listing on the Nigerian Exchange Limited, subject to market conditions and regulatory approvals. Citigroup, Deutsche Bank, Standard Bank, and CICC are acting as joint bookrunning managers for the U.S. offering.
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