OPay withdraws $304 million NYSE IPO after regulatory inquiry
OPay Limited cancelled its planned U.S. initial public offering on the New York Stock Exchange after a regulatory inquiry involving a foreign jurisdiction. The company had priced 16 million American Depositary Shares at $19 each, valuing the business at about $4 billion, and had agreed with underwriters to terminate the underwriting agreement on October 30, 2026. OPay said the halt will not affect its operations or financial condition and it will continue pursuing a secondary listing on the Nigerian Exchange.
Why it matters
The withdrawal removes a near‑term investment opportunity for investors who were expecting to buy OPay shares at the $19 price, and it introduces uncertainty about the company’s valuation and future capital‑raising timeline, according to the company’s statement.
Key facts
- 1OPay withdrew its $304 million IPO on the NYSE following a regulatory inquiry. pmnewsnigeria.com
- 2The offering was priced at $19 per ADS, representing a valuation of approximately $4 billion. pmnewsnigeria.com
- 3OPay terminated the underwriting agreement that had been signed on October 29, 2026. pmnewsnigeria.com
- 4The company had planned to sell 16 million ADSs. pmnewsnigeria.com
- 5OPay processed $358 billion in gross transaction value in 2025. pmnewsnigeria.com
- 6SoftBank is a major investor in OPay. seekingalpha.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.