OPay Files for NYSE IPO, Reveals $1.9bn Assets
Quick Reads
- OPay has filed to list on the NYSE under the ticker OPAY, with pricing expected in mid-November.
- Its total assets stand at $1.91 billion, and its short-term investment portfolio is $532.94 million.
- First-half revenue more than doubled to $467.1 million, and net income rose to $90.9 million.
- Standard Bank’s Africa arm plans to invest up to $200 million, and a Lagos secondary listing is also planned.
- The price range and debut date are still blank in the filing.
OPay, the Nigerian digital payments company, has filed to list on the New York Stock Exchange. It will trade under the ticker OPAY, with pricing expected in mid-November, The Next Web reports. The filing was made with the US Securities and Exchange Commission on October 9.
The paperwork gives a rare look at OPay’s finances. Nairametrics reports that its short-term investment portfolio stood at $532.94 million as of June 30, 2026, about 27.9% of its $1.91 billion in total assets. That portfolio has grown from $410.45 million at the end of 2025 and $131.35 million at the end of 2024.
The first-half revenue more than doubled to $467.1 million, and net income rose to $90.9 million. Nigeria supplied 88.1% of OPay’s 2025 revenue.
What the Filing Says About the Investment Book
Much of the portfolio is placed through licensed Nigerian asset managers, with holdings such as treasury bills and money market funds that generally mature within a year. OPay also warned that the makeup of some underlying investments is not always fully visible to it.
The deal has early backing. Standard Bank’s Africa arm plans to invest up to $200 million, capped at a 4.99% stake after the listing. OPay also plans a secondary listing in Lagos, though shares in the two markets may not be interchangeable.
Key details are still missing. The price range and number of shares are blank in the filing, and no debut date has been set. The roughly $4 billion valuation reported by some outlets does not appear in the filing itself.
If the listing goes ahead, it will be a major test of how global investors view Nigerian fintech.
