NEWS
OPay Begins NYSE Trading After Raising $304m In US IPO
OPay Begins NYSE Trading After Raising $304m In US IPO
OPay has commenced trading on the New York Stock Exchange under the ticker symbol OPAY.
The fintech raised $304 million from its IPO, selling 16 million American depositary shares at $19 each.
OPay reported a $1bn revenue run rate in Q2 2026, with first-half revenue growth of 137 percent and a net margin of 19 percent.
October 30, () – OPay has commenced trading on the New York Stock Exchange, marking a major milestone for the Nigeria-founded fintech following its $304 million initial public offering in the United States.
The company’s American depositary shares began trading under the ticker symbol OPAY, giving the digital financial services provider access to public-market investors as it seeks to expand across emerging economies.
OPay sold 16 million American depositary shares at $19 each in the offering, valuing the company at approximately $4 billion. The offer price was at the lower end of its targeted range of $19 to $21.
The listing also places a Nigerian-founded fintech among companies accessing the US capital market, eight years after OPay began operations in Nigeria.
Every second brings Nigerians closer to exercising their democratic right and shaping the future of our nation.
Exercise your democratic right responsibly, peacefully and lawfully.
Revenue Reaches $1bn Run Rate
In a statement marking the listing, OPay’s Chief Financial Officer, James Perry, said the company achieved a revenue run rate of $1 billion in the second quarter of 2026.
Channel
He added that revenue grew by 137 percent year-on-year in the first six months of 2026, while the company recorded a net margin of 19 percent.
Perry said the company would deploy proceeds from the listing with discipline, prioritising technology investments to support growth in Nigeria and other African markets.
The financial figures provide an indication of the scale of OPay’s operations ahead of its entry into the public market. However, the company’s performance as a listed entity will also be assessed through its ability to sustain revenue growth and profitability.
OPay Chief Financial Officer James Perry Photo credit getty images
Expanding Beyond Payments
OPay said it serves more than 50 million users across Nigeria, Egypt, Pakistan and Indonesia, with plans to expand its services beyond digital payments.
The platform currently offers payments, savings, credit and merchant services, positioning itself as a broader financial and lifestyle platform.
Co-Chief Executive Officer Stephen Wen said the company was targeting emerging markets with young populations and increasing smartphone penetration.
He also said more than 60 per cent of Nigeria’s population remained underserved by traditional banks and relied on cash, creating opportunities for digital financial services.
Wen described the listing as a significant moment for the company and Nigeria, where OPay launched in 2018.
Founded by Chinese entrepreneur Yahui Zhou, OPay previously raised $400 million in 2021 at a valuation of $2 billion. SoftBank entities held a 6.6 per cent stake in the company before the IPO, according to its prospectus.
The company said it intends to use its public-market position to invest in technology, expand across its operating markets and build a platform serving more consumers and merchants over the longer term.
DO YOU WANT TO WHISTLEBLOW, REPORT FRAUD, THEFT OR INJUSTICE OR INTIMIDATION? SEND US YOUR STORY/REPORT TO NEWSDESK@MEDIATODAY.NG
