Nigeria's OPay listed on the NYSE, becoming the first Nigerian fintech to debut in the US market. The IPO was priced at $19 per ADS, raising approximately $304 million and giving the company a valuation of approximately $4 billion.
Nigerian fintech company OPay debuted on the New York Stock Exchange and began trading under the ticker OPAY. The stock opened at the public offering price of $19, marking the first listing of a Nigerian fintech company in the US market. The offering raised approximately $304 million in total.
OPay began operations in Lagos 8 years ago and has focused on providing financial services to the unbanked. The listing represents a major milestone symbolising the company's growth and expansion into the US market.
OPay co-CEO Lars Boilesen reflected on the company's journey from its initial efforts to deliver financial services to unbanked people on the streets of Lagos and described how it reached its NYSE listing. The NYSE issued a statement welcoming OPay.
The IPO was priced at $19 per ADS and raised approximately $304 million through the sale of 16 million shares. OPay's IPO market capitalisation was reported to be approximately $4 billion.