Why Opay suspended listing, trade on New York Stock Exchange

OPay Limited has withdrawn its planned initial public offering (IPO) on the New York Stock Exchange (NYSE) following a regulatory inquiry involving a foreign jurisdiction it described as immaterial to its core business operations.

In a statement, the fintech company said it had mutually agreed with its underwriters to terminate the underwriting agreement signed on October 29, 2026.

The decision means its American Depositary Shares (ADSs) will no longer commence trading on the NYSE as previously scheduled.

OPay, however, stressed that the development would not affect its business operations, financial condition or service delivery in Nigeria and other markets where it operates.

The company reaffirmed its commitment to investing in Nigeria’s digital financial services sector, adding that it would provide further updates as significant developments arise.