OPay, a digital bank and fintech platform in Nigeria and other emerging markets, announced that it was terminating its IPO, despite having announced the pricing and expected trading of its $304 million offering on Friday morning. According to a 6-K filing today, the company made the decision not to complete the IPO after a regulatory inquiry was made relating to a jurisdiction immaterial to the Company’s business operations. OPay states that it expects the inquiry to be concluded satisfactorily in the near future, which could result in the offering being revived in the coming months.
OPay is a digital financial platform built for the challenges of emerging markets. 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 provides loan facilitation services in Indonesia, and also generates a small amount of revenue in Egypt and Pakistan.
Citi, Deutsche Bank, Standard Bank, and CICC are the joint bookrunners on the deal.
