Why OPay Postponed Share Offer

OPay Limited has postponed its planned share offering on the New York Stock Exchange (NYSE), citing an ongoing regulatory inquiry as the reason for delaying the proposed transaction.

The fintech company disclosed the decision in a public statement, saying it followed careful consideration of the inquiry by a regulatory authority. It did not identify the regulator or provide details about the nature of the inquiry.

“The inquiry does not affect the services OPay provides to its customers or the way it runs business in Nigeria or other business markets,” the company said.

OPay said the postponement was in the best interests of the company and its customers, but did not announce a new timeline for the proposed share offer.

The planned offering would have provided the company with an opportunity to access international capital markets and broaden its investor base.

Reassuring customers and business partners, OPay said its operations remained unaffected and all services were fully available.

“Customers can continue to send and receive money, make payments, and save money without interruption,” it added.

The company also expressed appreciation to its customers, merchants, agents, employees and business partners for their continued support, reaffirming its commitment to making financial services more inclusive through technology.

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