OPay Raises $304 Million in IPO Amid NYSE Trading Halt
OPay Ltd. raised $304 million in a U.S. initial public offering but failed to begin trading on the New York Stock Exchange due to a halt.
Fintech company OPay Ltd. raised $304 million through a U.S. initial public offering on Friday, October 30, 2026. The company sold 16 million American depositary shares at $19 each, which was the bottom of its targeted $19 to $21 range. This pricing resulted in a company valuation of approximately $4 billion.
Despite the capital raise, shares did not begin trading on the New York Stock Exchange as scheduled. The exchange reported a trading halt at 3:30 p.m. with news pending. Opening prices were indicated to be between $16.25 and $16.75, falling below the initial IPO price.
Founded in 2018 by Yahui Zhou and backed by SoftBank, OPay provides digital financial services in emerging markets, primarily Nigeria and Indonesia. The listing took place during a period of market volatility characterized by inflation and a selloff in AI-related stocks.
