OPay sets terms for a NYSE IPO of up to $336M, with a $200M Stanbic placement alongside

OPay has set terms for a US initial public offering of 16 million ADSs at $19 to $21 each, or $304 million to $336 million before the over-allotment option, on the NYSE under the ticker OPAY. Underwriters hold a 30-day option on up to 2.4 million more ADSs.

The Singapore-headquartered company runs a digital financial platform for emerging markets. For the first half of 2026 it reported revenue of $467.1 million, up from $197.5 million, and net income of $90.9 million, up from $21.7 million.

Nine investors, including Redwheel, Coronation Africa Frontiers Fund, Ninety One Asia and existing shareholder SBVA, have indicated non-binding interest in up to $270 million of the ADSs. Separately, Stanbic Africa Holdings has agreed to buy shares in a private placement of up to $200 million. Citigroup, Deutsche Bank, Standard Bank and CICC lead the offering, and a Nigerian Exchange listing is planned afterwards.