OPay, a Nigeria-focused digital monetary providers firm, has listed on the New York Stock Exchange (NYSE), elevating $304 million in its preliminary public providing (IPO) and securing a market capitalisation of greater than $4 billion.
The firm started buying and selling on Friday, pricing its providing at $19 per American Depositary Share (ADS). It offered 16 million ADSs, with every representing 10 strange shares.
According to the corporate, the United States Securities and Exchange Commission declared its registration assertion efficient on 29 October, and the providing was anticipated to shut on 2 November.
Lars Boilesen, OPay’s co-chief govt officer, mentioned the itemizing marked a big milestone for the corporate and Nigeria’s monetary expertise sector.
“Today, OPay serves over 50 million monthly active users across Nigeria, Egypt, Pakistan, and Indonesia. Since launching in Nigeria eight years ago, we have pioneered seamless digital payments to become the country’s leading digital financial platform,” he mentioned.
Mr Boilesen mentioned the corporate had recorded a 9.9 per cent market share throughout Africa and the Middle East based mostly on month-to-month common customers in the primary half of 2026.
He mentioned OPay noticed additional development alternatives in Nigeria, the place an estimated 40 million adults remained outdoors the formal monetary system.
“Our journey is just beginning. In Nigeria, an estimated 40 million adults remain outside the formal financial system,” he mentioned.
He added that the corporate supposed to use its expertise in Nigeria to different rising markets, the place younger populations and growing cellular web entry have been increasing demand for digital monetary providers.
Stephen Wen, one other co-chief govt officer of OPay, mentioned the corporate was positioned to increase throughout rising markets, citing rising smartphone penetration and demand for accessible monetary providers.
“In Nigeria, more than 60 per cent of the population are underserved by traditional banks and rely on cash. As we grow, we will stay focused on solving our customers’ pain points to make financial services accessible and convenient,” he mentioned.
James Perry, OPay’s chief monetary officer, mentioned the corporate had reached a $1 billion income run price in the second quarter of 2026.
He mentioned OPay recorded 137 per cent year-on-year development and a 19 per cent internet margin in the primary six months of the 12 months.
ALSO READ: How OPay is taking financial inclusion closer to more Nigerians
“OPay enters the public markets from a position of financial strength, reaching a $1 billion revenue run rate in Q2 2026. For the first six months of 2026, we grew 137% year-on-year and reached 19% net margin,” Mr Perry mentioned.
He mentioned the corporate deliberate to make use of the IPO proceeds to speculate in expertise and assist development in Nigeria and different African markets.
OPay has expanded past funds into financial savings, credit score and service provider providers, with plans to develop a broader monetary and way of life platform.
Launched in Nigeria in 2018, OPay operates an built-in digital monetary platform serving customers in Nigeria, Egypt, Pakistan and Indonesia.
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