OPay could bring its $4 billion IPO ambitions to the Nigerian Exchange
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OPay, the Nigeria-focused fintech famous for its lightning-speed transfers and green army of point-of-sale (PoS) devices, has spent months preparing for a big debut on the American capital market. Now, in a slightly unexpected turn, the company may also be preparing to sell shares to investors back home through the Nigerian Exchange (NGX). It is unclear whether OPay could list exclusively in Nigeria or pursue a dual listing.
What happened? According to local publication Nairametrics, OPay could be planning to list its shares on the NGX, though the company has not officially confirmed the plans. The timing, size of the offer, and number of shares it could sell are still unknown.
Explain like I’m new here: In May, Bloomberg reported that OPay was planning a US public listing, seeking a valuation of $4 billion. At the end of 2025, Opera, one of its key investors, held a 9.5% stake in OPay which was worth $294.6 million, implying a $3.10 billion valuation. At the end of Q2 2026, that investment had grown to $300.9 million in fair-value gain, showing that OPay’s valuation has ticked up slightly to $3.17 billion. If the $4 billion valuation ask goes according to plan, OPay’s listing would considerably grow its current $3.17 billion worth.
