OPay Prepares Dual Float on NGX and Wall Street in $4 Billion Public Debut
African payments juggernaut OPay is finalizing plans to list its shares on the Nigerian Exchange (NGX), expanding its public market debut alongside a targeted $4 billion initial public offering in the United States. The market update comes from investment banking source disclosures and financial documents revealing the SoftBank-backed fintech is preparing a dual-listing structure to grant local retail investors equity exposure. Underwriters Citigroup, Deutsche Bank, and JPMorgan Chase are structuring the foreign IPO, while the domestic float responds to domestic regulatory calls for high-performing tech firms generating local revenues to list equity on the NGX. The listing strategy follows robust fundamental performance. OPay processed $358 billion in gross transaction value in 2025, while full-year revenue surged 161% to $536.3 million, yielding an operating profit of $107.1 million. Nigeria continues to drive the enterprise’s underlying performance, accounting for 88.1% of total revenues. The move represents a major victory for Nigerian capital market regulators pushing to deepen domestic equity market capitalization.
African Fintech OPay Swings to $72M Profit Ahead of Proposed U.S. IPO
African fintech giant OPay Limited posted a net profit of $72.47 million for the 2025 fiscal year, achieving a decisive turnaround from a $50.98 million net loss in FY2024. According to audited financial disclosures, the earnings shift was powered by total revenues surging 161% year-on-year to $536.3 million from $205.7 million. Gross transaction value more than doubled to $358 billion in 2025, up from $166.2 billion in 2024, supported by 39.3 million monthly active users across its key operating markets. Nigeria remained the platform’s main revenue driver, contributing 88.1% of turnover, while Indonesia, Egypt, and other markets generated 9.9, 1.6, and 0.4 %, respectively. Meanwhile, loan originations expanded 285% to $938.3 million, driving operating profit to $107.1 million. “OPay’s mission is to make financial services more inclusive through technology,” said Yahui Zhou, Chairman of OPay. “We will continue to remain grounded in our principles and strengthen our monetization.” The profitability milestone comes as the SoftBank-backed enterprise prepares for a potential United States initial public offering later in 2026, engaging Citigroup, Deutsche Bank, and JPMorgan Chase.
OPay Taps Citigroup and JPMorgan for $4 billion U.S Stock Listing
Fintech giant OPay is preparing for a landmark Initial Public Offering in the United States, appointing Citigroup, JPMorgan Chase, and Deutsche Bank to lead the multi-billion-dollar share sale. The Nigerian-founded company is reportedly seeking a valuation of approximately $4 billion. The listing on either the NYSE or Nasdaq is expected to launch in late 2026. This move aims to secure deep-pocketed global investors to fund its rapid expansion across Africa and the Middle East. OPay’s primary backer, Opera Limited, recently signaled high confidence in the exit strategy. Financial filings assigned an 85% probability to the IPO occurring within the next two years. The timing coincides with a broader push for transparency in Nigeria’s fintech sector. Just last month, the Central Bank introduced new Bank Verification Number (BVN) restrictions to combat SIM-swap and identity fraud. Meawhile, OPay’s dominance in mobile payments remains unmatched. The company processed over $13 billion in 2025, benefiting from Nigeria’s aggressive shift toward a cashless economic model. A successful U.S. listing would provide OPay with the capital necessary to challenge traditional banks. It currently competes directly with commercial lenders for retail deposits and credit services. The IPO follows a period of significant consolidation in African tech. Investors are increasingly favoring profitable, high-volume platforms over speculative startups as global interest rates remain elevated.
