SoftBank-backed fintech, OPay, has raised $304m through its initial public offering on the New York Stock Exchange, marking its entry into the US public market at an estimated valuation of $4bn.

The company offered 16 million American depositary shares at $19 each, the lower end of its initial price range of $19 to $21, with trading commencing on Friday under the ticker symbol, OPAY.

The IPO gives OPay access to international capital market investors and provides an opportunity to broaden its ownership beyond existing shareholders.

Citigroup, Deutsche Bank, Standard Bank and China International Capital Corporation served as joint book-running managers for the offering.

The fintech also granted the underwriters a 30-day option to purchase an additional 2.4 million shares to cover possible over-allotments. If fully exercised, the additional shares could generate another $45.6m, bringing the total proceeds to approximately $349.6m.

The company expects the offering to close on 2 November, subject to customary closing conditions.

OPay’s listing comes amid efforts to deepen its capital market presence beyond the United States, with plans for a secondary listing on the Nigerian Exchange Limited.

The company disclosed in October that its board and shareholders had approved the proposed Nigerian listing, which would potentially allow local investors to acquire stakes in the fintech following its primary listing in New York.

The proposed NGX entry could also make OPay one of the prominent technology companies to access Nigeria’s public equity market.

OPay’s public market debut follows significant growth in its payments business. The company processed $358bn in gross transaction value in 2025, more than double the $166.2bn recorded in 2024.0

Its monthly active users also increased to 39.3 million in 2025, from 25.1 million a year earlier, indicating expanding adoption of its digital financial services.

The company also reported a short-term investment portfolio valued at $532.94m as of 30 June, 2026, with a substantial portion invested through Nigerian asset management companies.

SoftBank entities held a 6.6 per cent stake in OPay before the IPO, according to the company’s regulatory filing.