Nigerian-focused financial technology company OPay has withdrawn its planned $304 million United States initial public offering following a regulatory inquiry in an unnamed foreign jurisdiction, according to a Reuters report published on October 30, 2026.
The company had priced 16 million American depositary shares at $19 each, the lower end of a proposed $19 to $21 range, implying a valuation of approximately $4 billion. Earlier accounts described a New York Stock Exchange opening-bell ceremony and a temporary trading hold, but the subsequent Reuters report states that the offering was withdrawn.
OPay said the issue concerned a regulatory requirement outside Nigeria and maintained that the development would not affect its operations, customer service or regulatory standing in its principal markets. It expressed hope that the outstanding matter would be resolved.
Founded in 2018, the payments company operates in markets including Nigeria and Indonesia. Its prospectus reportedly disclosed about 50 million monthly active users as of July 31, 2026. The status of any future offering, listing timetable and regulatory resolution remains subject to further company disclosures.
