OPay plans to raise approximately 500 million USD through an IPO in New York and a private placement

According to Bloomberg, the fintech company OPay Digital Services Ltd., backed by SoftBank, plans to raise approximately $500 million through an IPO in New York and a private placement.

Sources revealed that the financing includes about $200 million in a concurrent private placement, with Standard Bank Group as the investor. As the information has not yet been made public, the sources requested anonymity.

OPay primarily provides services such as mobile payments and digital finance. If the plan to go public in the U.S. proceeds, it will become another company supported by SoftBank seeking to raise funds in the public capital markets.