Nigeria-focused payments firm OPay halted its $300 million New York initial public offering on 30 October, hours after pricing 16 million American depositary shares at $19 each, the bottom of its range, valuing it at roughly $4 billion.
The pause followed an inquiry from a Chinese regulator. Bloomberg reported that OPay has no operations or revenue in China, its only link being founder Zhou Yahui. Shares never traded under the OPAY ticker and no new timetable has been set, while Standard Bank’s planned investment of up to $200 million, tied to the listing, is on hold.
Source: BusinessDay
