Nigerian Fintech OPay Files for New York IPO, Semafor Reports
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Nigerian payments and lending app OPay has filed to list on the New York Stock Exchange, as reported by Yinka Adegoke for Semafor. Earlier reports suggested a valuation of approximately $4 billion.
(October 12, 2026 - 1:13 pm) * (Credit: © KHUNKORN via Canva.com)
According to its filing on October 9, bne IntelliNews, OPay will trade under the ticker OPAY and is expected to price in mid-November. The company has not yet specified a price range.
Lending Surpasses Payments
OPay's revenue surged 137% to $467 million in the first half of 2026, with net income quadrupling to $91 million.
Lending now accounts for the majority of its revenue, surpassing payments. Almost 90% of its revenue originates in Nigeria.
Investment and Board Membership
Standard Bank’s African division has agreed to invest up to $200 million, capped at a 4.99% stake post-listing. Its African head, Lungisa Fuzile, is expected to join OPay’s board.
OPay also plans a secondary listing in Lagos, cautioning that shares there may not be interchangeable with those traded on the New York exchange.
It would be the first fintech with a predominantly Nigerian customer base to list on the US market. Earlier African listings in New York, such as Jumia, have had varied outcomes.
By
Alina Maria Stan