OPay Limited priced its IPO at $19 per American depositary share (ADS), the low end of the $19-to-$21 range in its preliminary prospectus, as trading on the New York Stock Exchange began Friday, Oct. 30. OPay trades under OPAY. EconoTimes covered the NYSE debut.
The 16 million-ADS sale implies $304 million in gross proceeds before underwriting discounts and expenses. One ADS corresponds to 10 ordinary shares. Underwriters can add up to 2.4 million ADSs during a 30-day option period.
OPay expects the offering to close Monday, Nov. 2, if routine closing steps are met. Its prospectus says proceeds from the IPO and a concurrent private placement would support general corporate needs. Potential uses include technology, distribution, new solutions and market expansion, as well as possible acquisitions or strategic investments.
The prospectus reported 50.1 million monthly active users as of July 31, 2026. Lars Boilesen, OPay’s co-CEO, called the listing “a significant moment for OPay and Nigeria.”
