BUZZ - SoftBank-backed OPay is expected to list quietly after completing a $304 million U.S. IPO

October 30 - ** SoftBank-backed fintech company OPay OPAY.N is set to quietly list on the New York stock market after completing a $304 million US IPO

** The stock is expected to open at a price between $17 and $19 per share, with the IPO priced at $19 per share

** In the initial public offering, OPay sold 16 million American Depositary Shares at the lower end of the $19 to $21 per share issuance range (link) (link).

** This listing marks the end of another subdued month for the US IPO market, as rising borrowing costs and market volatility dampen market activity

** Focused on the African market, OPay was founded in Nigeria in 2018 and provides payments, transfers, savings, credit, and merchant services to more than 50 million users

** Citi, Deutsche Bank, and Standard Bank from South Africa served as joint bookrunners

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