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Nigeria-Focused OPay Files for US IPO with up to $200mn Standard Bank Investment
The Nigeria-focused fintech reported $467.1 million in six-month revenue and $90.9 million in net income as it seeks an OPAY listing.
- On Friday, Africa-focused fintech OPay filed a registration statement with the U.S. Securities and Exchange Commission to list American depositary shares on the New York Stock Exchange under the ticker 'OPAY'.
- The company reported first-half 2026 revenue of $467.1 million, up 136.5% year-over-year, driven by operations across Nigeria, Indonesia, Egypt, and Pakistan where Nigeria generated approximately 89% of revenue.
- South Africa's Standard Bank Group agreed to invest up to $200 million via private placement, while SoftBank Group holds a 6.6% pre-IPO stake through its Vision Fund entities.
- Following the proposed NYSE flotation, OPay plans to pursue a secondary listing on the Nigerian Exchange, responding to calls from NGX Group chief executive Temi Popoola to encourage domestic investment.
- This filing arrives as elevated interest rates and surging bond yields dampen investor appetite for new listings, prompting several companies to delay flotation plans despite OPay's capital expansion efforts.
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OPay makes $90.9 million profit in six months as it files for US IPO
OPay, one of Nigeria’s leading fintechs, has revealed strong financial performance as it moves closer to potentially listing on the New York Stock Exchange (NYSE). Consequently, investors are getting a fresh glimpse into the company’s growing success.
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