OPay Halts $304m NYSE IPO Amid Regulatory Inquiry

OPay Limited, a SoftBank-backed fintech firm, has decided to cancel its planned initial public offering (IPO) on the New York Stock Exchange (NYSE). The decision follows a regulatory inquiry in a foreign jurisdiction, which impacted its plans to enter the US capital market.

The company, which had raised $304 million for the IPO, reached a mutual agreement with its underwriters to terminate the underwriting agreement signed on October 29, 2026. The decision was made after determining that postponing the offering was the most prudent course of action.

As a result of the termination, OPay's American depositary shares (ADSs) will not begin trading on the NYSE as previously scheduled, marking a significant setback for its market entry strategy.