OPay, a digital bank and fintech platform in Nigeria and other emerging markets, announced terms for its IPO on Friday.
The Singapore-based company plans to raise $320 million by offering 16 million ADSs at a price range of $19 to $21. Existing and new investors intend to purchase $270 million worth of ADSs in the offering (84% of the deal). The company also plans to raise up to an additional $200 million in a concurrent private placement to Standard Bank. At the midpoint of the proposed range, OPay would command a market value of $4.2 billion.
OPay is a digital financial platform built for the challenges of emerging markets. It was the #1 finance app in Africa and the Middle East, with a 9.9% market share based on monthly active users in the six months ended June 30, 2026. Since launching in Nigeria, OPay has become the country’s leading digital financial platform and was the country's #2 app across all categories based on daily active users as of July 31, 2026. In addition to Nigeria, the company operates in Indonesia (loan facilitation), Egypt (merchant acquiring services), and Pakistan (merchant acquiring and consumer wallet services).
OPay was founded in 2017 and booked $806 million in revenue for the 12 months ended June 30, 2026. It plans to list on the NYSE under the symbol OPAY. Citi, Deutsche Bank, Standard Bank, and CICC are the joint bookrunners on the deal. It is expected to price during the week of Monday October 26, 2026.
