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Reported information

OPay announces halt to New York flotation

The Nigeria-focused payments platform announced on 31 October that its New York flotation had been halted, citing a regulatory inquiry.

Lagos skyline in 2015.
Lagos in 2015, archival illustration unrelated to the inquiry. Clara Sanchiz, CC BY-SA 2.0. — Clara Sanchiz — CC BY-SA 2.0 https://creativecommons.org/licenses/by-sa/2.0/ — 28 février 2015, sans modification

The offering involved 16 million depositary shares at $19 each, or $304 million. The jurisdiction and subject of the inquiry were not disclosed.

OPay says its services and financial position are unaffected. That assurance is the company’s account; no date for restarting the offering has been established.

Sources 2