OPay Seeks as Much as $336 Million in US IPO

06:44 PM EDT, 10/23/2026 (MT Newswires) -- Singapore-headquartered fintech OPay Limited is seeking to raise as much as $336 million in a US initial public offering, according to a preliminary prospectus filed with the US Securities and Exchange Commission. The company plans to offer 16 million American depositary shares at an expected price of $19 to $21 each, the filing said. Each ADS represents 10 ordinary shares. Underwriters have a 30-day option to buy up to 2.4 million more ADSs to cover over-allotments. OPay has applied to list on the New York Stock Exchange under the symbol "OPAY," and closing of the offering is conditioned on final exchange approval, the filing said. Nine investors, including Redwheel Group, Coronation Africa Frontiers Fund, Ninety One Asia and existing shareholder SBVA, formerly SoftBank Ventures Asia, have indicated non-binding interest in buying up to $270 million of ADSs at the IPO price, according to the filing. Separately, Stanbic Africa Holdings has agreed to buy ordinary shares in a concurrent private placement for up to $200 million, subject to regulatory approvals and completion of the IPO, the filing said. The final amount will depend on caps tied to Standard Bank Group's regulatory capital and a 4.99% stake limit.