By Boluwatife Oshadiya | October 31 2026
Key Points
- OPay raised $304 million by pricing 16 million American depositary shares at $19 each, valuing the company at approximately $4 billion
- NYSE’s message feed reported a trading halt with news pending after OPay’s shares were indicated to open below their IPO price
- OPay’s proposed secondary listing on the Nigerian Exchange is expected to provide domestic investors with access to its shares
Main Story
OPay’s shares had not begun trading on the New York Stock Exchange by Friday, October 30, after the exchange reported a trading halt with news pending, following the fintech’s $304 million initial public offering.
The company priced 16 million American depositary shares (ADSs) at $19 each, the bottom of its previously announced $19–$21 range. The offering valued OPay at approximately $4 billion, according to the supplied report. Bloomberg reported that the ADSs were indicated to open between $16.25 and $16.75 as of 2 p.m. in New York, both below the IPO price.
The NYSE message feed subsequently reported a trading halt at 3:30 p.m. with news pending, although no executed trades appeared on the feed. The report did not identify the reason for the halt or provide a time for the commencement of trading.
The development followed an opening-bell ceremony featuring OPay executives at the exchange. A video of the ceremony was posted on the NYSE’s X account but was later unavailable, according to the report.
OPay filed its Form F-1 registration statement with the US Securities and Exchange Commission on October 9. Its underwriters also received a 30-day option to purchase up to 2.4 million additional ADSs to cover over-allotments. The offering was expected to close on November 2, subject to customary conditions.
The company has also secured board and shareholder approval for a proposed secondary listing on the Nigerian Exchange, which is intended to broaden access for domestic investors after its US listing.
What’s Being Said
Bloomberg’s report, as reproduced in the supplied material, confirmed that the NYSE message feed showed a trading halt with news pending. However, it did not establish the reason for the halt or when trading would resume.
The supplied report contains no direct statement from OPay, the NYSE or an independent market analyst explaining the development. BizWatch Nigeria should seek clarification from OPay and the exchange before publication or in a subsequent update.
What’s Next
- OPay’s offering was expected to close on November 2, 2026, subject to customary closing conditions.
- The NYSE is expected to clarify the trading halt and indicate when trading in OPay’s ADSs can commence.
- OPay’s proposed secondary listing on the Nigerian Exchange remains a further development to monitor; no completion date is provided in the supplied report.
The Bottom Line:
OPay has completed the pricing of a substantial US share offering, but the reported trading halt and below-issue-price indications introduce uncertainty at the point its shares were expected to enter the market. The proposed Nigerian secondary listing could widen local investor participation, but its timing and execution remain separate milestones.
