Dikkasmedia
Nigeria-focused digital payments company OPay is seeking to raise as much as $366 million through a planned initial public offering (IPO) in the United States, in a move that could strengthen its position in the international financial technology market.
According to Dikkasmedia, the company announced on October 23, 2026, that it intends to offer approximately 16 million American Depositary Shares at between $19 and $21 per share. At the upper end of that price range, the proposed offering would value OPay at approximately $4.42 billion.
Founded in 2018, OPay provides digital financial services, including money transfers, payments, savings and loans. The company has built a significant presence in Nigeria and also operates in Indonesia, Egypt and Pakistan.
Its proposed listing comes as digital financial services continue to expand in emerging markets, where mobile payments and electronic transfers have become important alternatives to traditional banking channels. Nigeria, in particular, has developed into a major fintech market, with several companies competing to provide financial services to individuals and businesses.
OPay reported approximately 50 million monthly active users as of July 31, according to its IPO prospectus. The company previously raised $400 million in 2021 at a valuation of $2 billion, illustrating the scale of investor interest it attracted during an earlier funding round.
The planned offering also has backing from existing investors. Dikkasmedia reported that some investors had expressed non-binding interest in purchasing up to $270 million worth of shares, while Stanbic Africa Holdings had agreed to invest as much as $200 million through a separate private placement.
OPay intends to use the proceeds to invest in technology, expand its distribution network and geographical reach, develop new products, and pursue potential acquisitions and strategic investments.
However, the listing comes amid uncertainty in the US IPO market, with higher inflation and a sell-off in artificial intelligence-related stocks weighing on investor confidence.
If successful, the offering could provide OPay with additional capital to pursue expansion while giving public-market investors an opportunity to invest in a fintech company with substantial exposure to Nigeria.
The proposed listing is expected to take place on the New York Stock Exchange under the ticker symbol OPAY.
Dikkasmedia
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