SoftBank-backed OPay set for muted debut after $304 million US IPO
OPAY•OPay sold 16 million American depositary shares at $19 each, raising $304 million, and its stock was recently indicated to open between $17 and $19. The $19 IPO price was at the low end of its marketed range of $19 to $21.
1. IPO pricing and debut
Africa-focused fintech OPay sold 16 million American depositary shares in its US IPO at $19 each, raising $304 million. Its stock was recently indicated to open between $17 and $19, below or at the IPO price. Launched in Nigeria in 2018, OPay offers payments, transfers, savings, credit and merchant services to more than 50 million users.
