OPay, the Nigeria-focused digital payments company backed by SoftBank, withdrew its planned $304 million initial public offering on the New York Stock Exchange on October 30, 2026, citing a regulatory inquiry in a foreign jurisdiction it did not name. Earlier that day it had priced 16 million American depositary shares at $19, the bottom of its $19 to $21 range, valuing the company at about $4 billion.
Why it matters: OPay said the inquiry concerns a jurisdiction immaterial to its core business and will not affect its services in Nigeria or its other markets, and it gave no date for a new listing. Bloomberg described the offering as one of the most prominent emerging-market fintech listings in the US this year, for a company that reported about 50 million monthly active users at the end of July in its prospectus.
Source: Reuters, October 30, 2026; Bloomberg via Investing.com, October 31, 2026
Related: Airtel Money prices London IPO at £1.96 a share, valuing it at £5.3 billion · GCash parent Mynt prices IPO at ₱6.60 a share, raising up to ₱60.9 billion
Image: Jamie Tubers, CC BY-SA 4.0, via Wikimedia Commons
