OPay Debuts on New York Stock Exchange With $4 Billion Valuation

Digital financial platform OPay Limited officially commenced trading its American Depositary Shares on the New York Stock Exchange under the ticker symbol "OPAY" on October 30, 2026. The company priced its initial public offering at $19.00 per share, establishing a headline valuation of approximately $4 billion while raising $304 million in fresh capital.

Launched originally in Nigeria in 2018, OPay has expanded to serve more than 50 million users across Nigeria, Egypt, Pakistan, and Indonesia. The platform provides digital wallet capabilities, payments, transfers, savings, credit, and merchant services designed to connect consumers and businesses outside the traditional banking infrastructure.

Co-Chief Executive Officer Lars Boilesen noted the significance of the listing for both the company and Nigeria. "Today is a significant moment for OPay and Nigeria, where we launched OPay in 2018," Boilesen stated, highlighting the platform's journey to becoming the leading digital financial service in the country.

Co-Chief Executive Officer Stephen Wen emphasized the company's focus on emerging markets with young, digital-first populations and rising smartphone penetration. Wen pointed out that in Nigeria, more than 60 percent of the population remains underserved by traditional banks and continues to rely on cash.

Chief Financial Officer James Perry reported that OPay enters the public markets from a position of financial strength, having reached a $1 billion revenue run rate in the second quarter of 2026. According to Perry, the company grew 137 percent year-on-year for the first six months of 2026 and achieved a 19 percent net margin.

The newly raised capital brings immediate attention to how the offering price compares with the company's underlying book value. Because the exact price-to-book multiple has not been fully finalized for public trading history, investors are closely examining how the $304 million influx will influence future equity growth and asset productivity as the business deploys the funds.

Looking ahead, OPay aims to expand beyond payments into a comprehensive financial and lifestyle platform. Executives stated an ambition to serve billions of users and millions of merchants globally in the coming decades while maintaining a disciplined approach to deploying listing proceeds into technology and regional expansion.