Nigeria-focused fintech OPay sold 16 million American depositary shares at $19 each, raising $300 million and valuing the company at about $4 billion. It rang the NYSE opening bell, but ThisDay reports that trading was temporarily held over an outstanding regulatory clarification in a foreign jurisdiction.
It is the first major Nigeria-focused fintech to list in the United States, a benchmark for African fintech access to public markets, though the trading hold adds execution risk.
OPay is seeking to raise up to $370 million through an initial public offering of American Depositary Shares in New York. The offer could value the digital payments firm at $4.4 billion.
Fidelity Bank repaid its 5-year $400 million senior unsecured notes at maturity, having issued them on October 28, 2021. The payment shows the bank meeting its international debt obligations.
The Bank of Industry and France's Agence Française de Développement signed a $30 million credit facility. The facility is intended to support Nigeria's creative and cultural industries.
The Bank of Industry has secured more than €2.22 billion and N250 billion in new funding from transactions concluded between 2024 and 2026. The development lender says the funds will help close Nigeria's industrial financing gap.
