OPay has filed to list its shares on the New York Stock Exchange, potentially opening the Nigerian payments giant to international investors. The company has also secured an agreement for an investment of up to $200 million from South Africa’s Standard Bank Group.

The fintech company submitted a Form F-1 registration statement to the US Securities and Exchange Commission (SEC) on October 9, 2026, proposing an initial public offering (IPO) under the ticker symbol OPAY.

An IPO allows a privately owned company to offer its shares to public investors for the first time.

According to OPay’s official SEC filing⁠, the company has not yet disclosed how many shares it intends to sell, their proposed price or how much it expects to raise.

The filing does not mean OPay is already listed. The offering still requires regulatory clearance and final approval from the New York Stock Exchange.

Standard Bank could invest up to $200 million

Alongside the proposed listing, Stanbic Africa Holdings, a subsidiary of Standard Bank Group, has agreed to purchase shares in OPay through a separate private investment.

The investment could reach $200 million, but the final amount will depend on regulatory capital limits, share pricing and an ownership ceiling of 4.99%.

It is also conditional on the successful completion of the IPO and applicable regulatory approvals.

The two companies signed an earlier agreement in August to explore cooperation in digital banking, payments, lending, remittances and financial services across Africa.

However, the agreement does not guarantee that all the proposed business initiatives will take place.

These arrangements are disclosed in the preliminary prospectus submitted to US regulators⁠.

Nigeria generated almost 90% of OPay’s revenue

Although OPay Limited is incorporated in the Cayman Islands and headquartered in Singapore, Nigeria remains its largest business market.

Its newly disclosed financial figures show that Nigeria generated $417.6 million, representing 89.5% of the company’s total revenue, in the first six months of 2026.

Across all its markets, OPay reported:

  • $536.3 million in revenue for 2025.

  • $467.1 million in revenue for the first half of 2026.

  • $90.9 million in net profit for the first half of 2026, compared with $21.7 million in the corresponding period of 2025.

These figures come from the financial statements included in OPay’s SEC registration⁠.

The figures demonstrate the importance of OPay’s Nigerian operations to its global business, including payments, merchant services and digital lending.

OPay is also considering a Nigerian stock market listing

The filing reveals another development: OPay has obtained approval from its board and shareholders to pursue a secondary listing on the Nigerian Exchange (NGX).

That would potentially allow investors to trade the company’s shares on Nigeria’s stock market after its proposed New York listing.

However, the Nigerian listing remains subject to market conditions and regulatory approvals. No date has been announced.

What this means for Nigerians

Millions of Nigerians use OPay for everyday transfers, payments and business transactions.

A successful international listing could provide the company with additional capital to develop its technology, expand services and enter new markets.

A subsequent Nigerian listing could also give domestic investors an opportunity to own shares in a company whose revenue comes overwhelmingly from Nigeria.

But none of these outcomes is guaranteed. The IPO has not been completed, Standard Bank’s investment has not closed, and OPay has not announced a final share price.

The next developments to watch are the IPO pricing, regulatory approvals and whether the company proceeds with its proposed Nigerian listing.