OPay Lists on NYSE at $4 Billion Valuation, Raising $304 Million
OPay has listed on the New York Stock Exchange at $19 per share, offering 16 million shares and raising $304 million at an approximately $4 billion valuation. Trading was halted shortly after the debut. The listing is the largest African fintech public market event in recent years.
OPay NYSE: priced at the bottom, then the door didn't open
OPay priced its shares at $19 — the very floor of its stated range, not the ceiling. That already signals the market's hesitation.
Then trading was halted before a single share changed hands, with indicative prices showing buyers expected to pay $16 to $16.75 — well below what OPay charged them.
The bell-ringing video got deleted. The DJ played to nobody.
This isn't a detail. A company that wrote off $113 million in bad loans in six months, built almost entirely on Nigeria, just tried to convince New York it was worth $4 billion — and New York blinked on day one.
5 sources
- OPay is now trading on the New York Stock Exchange at $19 a share · techcityng.com · T2
- OPay post-IPO trading halted after raising $304 million · nairametrics.com · T2
- OPay prices US IPO at $19 per share, valuing the fintech at about $4 billion · technext24.com · T2
- OPay lists on NYSE, offers 16 million shares at $19 each · nairametrics.com · T2
- OPay Is Now on the New York Stock Exchange. · innovation-village.com · T2