Standard Bank Eyes OPay Stake Ahead of $4 Billion US IPO
Standard Bank is reportedly pursuing an equity stake in Nigerian fintech OPay ahead of the company's planned $4 billion US initial public offering. The move would represent a significant convergence between Africa's largest bank by assets and one of the continent's most prominent fintech operators.
OPay's IPO: Standard Bank's bet exposes the real cost of listing in New York
88% of OPay's revenue comes from Nigerian users. The IPO is going to New York. And now Africa's largest bank by assets wants in — before the shares are even available.
That pre-IPO move tells you something. Standard Bank isn't buying into OPay's Egypt or Pakistan growth story. It's buying into Nigeria, at a price only available to institutions with the relationships to get a seat before the listing opens.
Ordinary Nigerian investors — the ones whose transactions built that $358 billion in annual payments volume — will buy in later, at whatever price New York sets, on an exchange they can't easily access.
The Standard Bank talks don't change that. They underline it.
4 sources
- Standard Bank targets OPay stake as fintech giant prepares for US IPO · thecondia.com · T2
- Standard Bank eyes stake in OPay ahead of $4 billion US IPO · nairametrics.com · T2
- Standard Bank Eyes OPay Stake Ahead of Potential $4 Billion US IPO · innovation-village.com · T2
- Standard Bank moves to buy Opay stake ahead of US listing · technext24.com · T2