OPay seeks New York listing with up to $200 million private placement

OPay has applied to list American depositary shares on the New York Stock Exchange under the symbol OPAY, Naija247news reported, citing its IPO filing. Stanbic Africa Holdings Limited has agreed to invest up to $200 million in a concurrent private placement. The digital payments company reported first-half net income of $90.9 million and revenue of $467.1 million, compared with revenue of $197.5 million a year earlier. Those figures cover consolidated operations in Nigeria, Indonesia, Egypt and Pakistan. OPay also plans a secondary Nigerian listing after the proposed New York listing. The offering remains subject to the listing process and eventual terms.