OPay prices US IPO at $19 per share, valuing the fintech at about $4 billion

OPay, a fintech company backed by SoftBank, has announced the pricing of its initial public offering (IPO) in the U.S. at $19 per share, placing the company’s valuation at around $4 billion.

The IPO includes 16 million American depositary shares (ADSs) priced at $19 each, at the lower end of the proposed $19 to $21 range. According to a Bloomberg report published today, the offering aims to raise about $304 million before fees and expenses. Additionally, the underwriters have a 30-day option to acquire up to 2.4 million more ADSs to manage any over-allotments.

The company plans to start trading on the New York Stock Exchange (NYSE) under the ticker symbol OPAY, with the offering expected to close on November 2, pending customary conditions. Each ADS corresponds to 10 ordinary shares of OPay.

OPay takes African fintech to Wall Street

Founded in 2018, OPay has established itself as a key player in the digital financial sector, providing a wide range of services such as payments, money transfers, savings, credit, and merchant services. With operations in various countries, including Nigeria, Egypt, Pakistan, and Indonesia, Nigeria stands out as its most significant market.

Similar read: OPay makes $90.9 million profit in six months as it files for a US IPO

As of July 31, 2026, the fintech reported an impressive user base of more than 50 million, with approximately 50 million monthly active users. This growth is underscored by the company’s recent funding achievement of $400 million in 2021, which brought its valuation to around $2 billion. Notably, before its initial public offering (IPO), SoftBank entities held a 6.6% stake in OPay.

The upcoming IPO reflects the company’s strategy to attract capital from public investors and to further expand its financial services in emerging markets. In early October, the company also announced plans for a secondary listing on the Nigerian Exchange, which would allow Nigerian investors the chance to invest in the company.

With a valuation reaching $4 billion, OPay is recognised as one of the most valuable fintech companies focused on Africa, looking to enter the US public market.

Also read: ‘Stubbornness is a business model in Africa’: OPay’s Dotun Adekunle on the road to its $4.4bn IPO