OPay Prices IPO at $19 per ADS, Raising Gross Proceeds From 16M Share Sale
Summary
OPay priced its initial public offering at $19 per ADS on 16 million ADSs, setting the terms for its NYSE debut and raising $304 million in the US IPO. The pricing is the key number for the listing — it fixes the valuation and the gross proceeds the company takes in before any greenshoe. The deal values OPay at about $4 billion; the company had 50 million monthly active users as of July 31, and SoftBank held a 6.6% stake pre-offering. The stock's first trades will show whether the $19 level holds; a break below on debut would point to weak demand for the offering.
Updated with a Reuters report · What changed
Updates
· Reuters — OPay's IPO values the company at about $4 billion; it had 50 million monthly active users as of July 31 and SoftBank held a 6.6% stake pre-offering.
This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.