SoftBank-backed fintech firm OPay Ltd. has officially set the terms for its upcoming initial public offering, aiming to raise $320 million on the New York Stock Exchange. The parent company of Nigeria’s leading digital banking platform is offering 16 million American Depositary Shares (ADS) at an expected price range of $19.00 to $21.00. At the $20 midpoint, the Singapore-headquartered holding company would achieve a market capitalization of $4.2 billion, with pricing slated for the week of October 26, 2026.
Investor appetite for the offering appears robust, with cornerstone investors signaling interest in up to $270 million, representing roughly 84.4 percent of the IPO. Additionally, OPay has lined up a concurrent $200 million private placement of ADS with Stanbic Africa Holdings. Citigroup, Deutsche Bank Securities, Standard Bank, and CICC are serving as joint book-runners for the high-profile listing.
Operating primarily as Nigeria’s top digital finance app, OPay has expanded its footprint across emerging markets, including Indonesia, Egypt, and Pakistan. Backed by strong regional market share, the company outlines a long-term vision to scale its payment ecosystem and serve billions of users across Africa and other developing economies.
