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OPay files for NYSE IPO and pursues dual listing
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2026-10-10 00:35 UTC → 2026-10-12 08:04 UTC ·
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OPay US files for NYSE IPO and Standard Bank investment pursues dual listing
Digital payments company OPay has filed for an initial public offering on the New York Stock Exchange following (NYSE), revealing significant revenue growth. growth in its registration statement with the Securities and Exchange Commission. The company reported that revenue for the first half of the year more than doubled to $467.1 million, up from $197.5 million compared to in the previous year, with total revenue for the 12 months ended June 30 reaching $806 million. Founded by Yahui Zhou and backed by SoftBank entities, OPay serves approximately 50.1 million monthly active users across Nigeria, Indonesia, Egypt, and Pakistan. The company has received board and shareholder approval to pursue a dual listing strategy, proposing to list American Depositary Shares on the NYSE under the ticker symbol ‘OPAY’, with a secondary listing on the Nigerian Exchange Limited (NGX) to follow if the U.S. offering proceeds. In conjunction with the planned IPO, Stanbic Africa Holdings Limited, a subsidiary of Standard Bank Group, has agreed to invest up to $200 million in a concurrent private placement. This investment is capped at the lowest of $200 million, 0.98% of Standard Bank Group’s qualifying regulatory capital, or the cost to acquire a 4.99% equity stake at the final IPO price. The acquired shares will be subject to a 12-month lock-up period. Furthermore, the two entities have signed a non-binding Memorandum of Understanding to explore digital banking collaborations in areas such as merchant acquiring, payments, lending, and remittances. As part of this development, Lungisa Fuzile, the former CEO of Standard Bank South Africa, is expected to join OPay’s board as a non-executive director. Underwriters for the offering include Citigroup, Deutsche Bank, Standard Bank, and CICC.
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- 2026-10-12 08:04 UTC OPay files for NYSE IPO and pursues dual listing
- 2026-10-10 00:35 UTC OPay US IPO and Standard Bank investment
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