OPay raises $304 million in NYSE IPO at a valuation above $4 billion

Fintech company OPay raised $304 million in its US initial public offering, Reuters reported. The New York Stock Exchange says the SoftBank-backed company starts trading under the ticker OPAY and has a market value above $4 billion.

The Exchange confirmed the figures in a content update on PR Newswire dated October 30, 2026. It adds that OPay will ring the opening bell to mark the listing, and that co-CEO Lars Boilesen is due to appear on NYSE Live.

What the listing release does and does not say

The NYSE note is short. It gives the amount raised, the ticker and the valuation, and nothing else. It does not state the number of shares sold, the offering price or the underwriters. Those terms are therefore not confirmed here, and the first-day trading price was not available when this was written.

Earlier reports on the company’s filing fill in part of the picture. According to DealStreetAsia, the lead banks were Citigroup, Deutsche Bank, Standard Bank and CICC, and OPay plans a secondary listing in Nigeria after the NYSE debut. The same report says Stanbic Africa Holdings agreed to invest up to $200 million in a concurrent private placement. Whether that placement is counted in the $304 million is not established by the sources we read.

A fast-growing payments business concentrated in Nigeria

OPay offers digital payments and lending in Nigeria, Indonesia, Egypt and Pakistan. In the six months to June 30, its filing showed revenue of $467.1 million, against $197.5 million a year earlier, and net income of $90.9 million, up from $21.7 million, per DealStreetAsia.

Nigerian outlet Condia, summarizing the same filing, reports 50.1 million monthly active users as of July 2026 and says Nigeria accounted for 89.5% of first-half revenue. Both figures are the company’s own, as relayed by the press, and we could not check them against the filing itself.

Who is affected as African fintech returns to Wall Street

The angle here is who this touches in practice. For existing holders, SoftBank-linked entities owned 6.6% of OPay before the offering, according to DealStreetAsia, so the listing gives them a public mark on a modest stake. OPay raised $400 million at a $2 billion valuation in 2021, per the same report, which means the implied value has roughly doubled since then, assuming the $4 billion figure holds in trading.

For buyers of the stock, the concentration is the main fact to weigh: nearly nine-tenths of recent revenue came from one country, and the company is growing from a small base. Rapid profit growth is the company’s reported record, not a forecast, and the sources do not say how durable it is.

For the wider market, the timing matters. DealStreetAsia noted that high interest rates and rising bond yields have dampened IPO demand, with several companies delaying listings. A completed deal at a $4 billion valuation is a data point that investors will read for appetite for emerging-market fintech. Another large listing in the pipeline is Anthropic’s, whose filing we covered in our report on its 93 pages of risk disclosures.

Open questions after the bell

Several things remain unconfirmed: the offering price against the earlier marketed range, the exact share count, the final underwriting syndicate and how the secondary Nigerian listing will be timed. OPay is a payments and lending company rather than an AI developer, so its relevance to our readers is as a read on how the market is pricing large technology listings and the SoftBank-backed companies within it.