OPay, a Nigeria-focused virtual monetary products and services corporate, has indexed at the New York Stock Exchange (NYSE), elevating $304 million in its preliminary public providing (IPO) and securing a marketplace capitalisation of greater than $4 billion.
The corporate started buying and selling on Friday, pricing its providing at $19 consistent with American Depositary Proportion (ADS). It offered 16 million ADSs, with each and every representing 10 strange stocks.
In keeping with the corporate, the US Securities and Alternate Fee declared its registration remark efficient on 29 October, and the providing used to be anticipated to near on 2 November.
Lars Boilesen, OPay’s co-chief government officer, stated the record marked an important milestone for the corporate and Nigeria’s monetary era sector.
“Lately, OPay serves over 50 million per thirty days lively customers throughout Nigeria, Egypt, Pakistan, and Indonesia. Since launching in Nigeria 8 years in the past, now we have pioneered seamless virtual bills to turn into the rustic’s main virtual monetary platform,” he stated.
Mr Boilesen stated the corporate had recorded a 9.9 consistent with cent marketplace percentage throughout Africa and the Center East in accordance with per thirty days moderate customers within the first part of 2026.
He stated OPay noticed additional expansion alternatives in Nigeria, the place an estimated 40 million adults remained outdoor the formal monetary gadget.
“Our adventure is solely starting. In Nigeria, an estimated 40 million adults stay outdoor the formal monetary gadget,” he stated.
He added that the corporate meant to use its enjoy in Nigeria to different rising markets, the place younger populations and extending cell web get right of entry to have been increasing call for for virtual monetary products and services.
Stephen Wen, every other co-chief government officer of OPay, stated the corporate used to be situated to enlarge throughout rising markets, bringing up rising smartphone penetration and insist for obtainable monetary products and services.
“In Nigeria, greater than 60 consistent with cent of the inhabitants are underserved by way of conventional banks and depend on money. As we develop, we can keep all for fixing our shoppers’ ache issues to make monetary products and services obtainable and handy,” he stated.
James Perry, OPay’s leader monetary officer, stated the corporate had reached a $1 billion income run price in the second one quarter of 2026.
He stated OPay recorded 137 consistent with cent year-on-year expansion and a 19 consistent with cent internet margin within the first six months of the yr.
ALSO READ: How OPay is taking financial inclusion closer to more Nigerians
“OPay enters the general public markets from a place of monetary energy, achieving a $1 billion income run price in Q2 2026. For the primary six months of 2026, we grew 137% year-on-year and reached 19% internet margin,” Mr Perry stated.
He stated the corporate deliberate to make use of the IPO proceeds to put money into era and toughen expansion in Nigeria and different African markets.
OPay has expanded past bills into financial savings, credit score and service provider products and services, with plans to increase a broader monetary and way of life platform.
Introduced in Nigeria in 2018, OPay operates an built-in virtual monetary platform serving customers in Nigeria, Egypt, Pakistan and Indonesia.
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