As of September 27, 2026, OPay has not filed a registration statement for an IPO on SEC EDGAR, which covers only US filings. Nairametrics reported on August 13, 2026 that OPay's newly disclosed 2025 audited financials -- gross transaction value of $358 billion, up from $166.2 billion; revenue of $536.3 million, up 161%; and operating income that swung from a $35.1 million loss to a $107.1 million profit -- were released as the company prepares for a potential NYSE listing, reaffirming a roughly $4 billion US IPO plan led by Citigroup, Deutsche Bank and JPMorgan Chase and expected later in 2026. On August 20, 2026, Dabafinance reported that Standard Bank Group had entered early-stage talks to take a pre-IPO stake in OPay ahead of that planned listing, though the talks may not result in a deal. On September 1, 2026, Daily Trust reported that OPay is weighing a listing on Nigeria's NGX, possibly alongside or as a dual listing with the US IPO, after NGX Group CEO Temi Popoola publicly named OPay and PalmPay as fintechs reportedly considering overseas listings. None of this is a confirmed date, a closed round, or a filing. Track SEC EDGAR and OPay's own channels directly, not rumors or secondary-market chatter.
Segmara is an independent research site. Segmara does not sell, broker, or arrange share purchases. Nothing here is investment advice.
Key points
Audited financials, not a filing
Nairametrics reported on August 13, 2026 that OPay disclosed audited 2025 financials showing gross transaction value of $358 billion, up from $166.2 billion, and revenue of $536.3 million, up 161% from the prior year. Operating income swung from a $35.1 million loss to a $107.1 million profit.
The outlet reported the disclosure came as OPay prepares for a potential NYSE listing, reaffirming a roughly $4 billion US IPO plan led by Citigroup, Deutsche Bank and JPMorgan Chase and expected later in 2026. A disclosed financial statement is not a registration statement; no S-1 or F-1 for OPay appears on SEC EDGAR, which covers only US filings.
A bank weighing a pre-IPO stake
On August 20, 2026, Dabafinance reported that Standard Bank Group had entered early-stage talks to take a pre-IPO stake in OPay ahead of its planned roughly $4 billion US stock-market listing.
Dabafinance's report was explicit that the talks are early-stage and may not result in a deal. No investment has closed, and no terms have been disclosed.
A possible dual listing in Nigeria
Daily Trust reported on September 1, 2026 that OPay is weighing a listing on Nigeria's NGX, possibly alongside or as a dual listing with its US IPO.
The report followed public comments from NGX Group CEO Temi Popoola, who named OPay and PalmPay as fintechs reportedly considering overseas listings. Whether a Nigerian listing happens alongside, before, or independent of the US plan remains undecided; no exchange filing exists yet on either the NGX or SEC EDGAR side.
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Article title
When Will OPay IPO? 2025 Financials Reaffirm $4 Billion US Plan
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Searches like 'When Will OPay IPO? 2025 Financials Reaffirm $4 Billion US Plan' are research questions: what a filing or a company statement confirms, what has only been reported, and what is still unknown.
What counts as a listing step
For an IPO, the primary record is a registration statement filed with the securities regulator of the listing market, such as an S-1 or F-1 on SEC EDGAR for a US listing. Funding rounds, valuations and secondary-market prices are context, not listing steps.
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How a company reaches a US listing
The SEC filing trail
DraftThe company can first submit a draft registration statement (DRS) for confidential SEC review.
S-1 or F-1The registration statement goes public on SEC EDGAR: Form S-1, or Form F-1 for many foreign companies. A company that used a draft must file publicly at least 15 days before its roadshow.
AmendmentsS-1/A or F-1/A amendments answer SEC comments, and one of them adds the expected price range.
PricingOnce the SEC declares the registration effective, the company sets the price with its underwriters and files the final prospectus, usually a 424B4.
First tradeThe shares start trading on the exchange named in the prospectus, such as Nasdaq or the NYSE.
OPay is not on Segmara Pro's EDGAR alert list, so no alert is posted for its filings. To look for one, search its name with EDGAR full-text search. Segmara Pro's weekly IPO brief, posted in the members forum, covers filings and pricing across the IPO calendar.
No S-1 or F-1 exists for OPay on SEC EDGAR as of the latest site review; Nairametrics reported on August 13, 2026 that newly disclosed 2025 audited financials -- $358 billion in gross transaction value, up from $166.2 billion, and revenue of $536.3 million, up 161% -- reaffirm a roughly $4 billion US IPO plan expected later in 2026, not a filed listing.
OPay's 2025 operating income swung from a $35.1 million loss to a $107.1 million profit, according to the same August 13, 2026 Nairametrics report, which framed the disclosure as preparation for a potential NYSE listing led by Citigroup, Deutsche Bank and JPMorgan Chase.
Two more signals surfaced after the financials: Dabafinance reported on August 20, 2026 that Standard Bank Group is in early-stage talks for a pre-IPO stake, and Daily Trust reported on September 1, 2026 that OPay is weighing a dual listing on Nigeria's NGX alongside the US plan -- both unconfirmed as deals or filings.
Risk notes
Rumor risk: unofficial dates, valuations, or funding details circulating on social media or forums are frequently wrong or outdated and should not be treated as confirmation of anything.
Illiquidity risk: any private-market interest, indicative marks, or pre-IPO share arrangements in a company that has not listed can be difficult to exit and may not reflect a tradable price.
Timing risk: a company can pause, restart, or abandon IPO preparation at any stage, including after a confidential or public filing, so no step before pricing guarantees a listing.
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Has OPay confirmed an IPO date?
No. As of the latest site review, no S-1 or F-1 has been filed on SEC EDGAR, which covers only US filings. Nairametrics reported on August 13, 2026 that OPay's 2025 financials reaffirm a roughly $4 billion US IPO plan expected later in 2026, but no specific date has been set by the company.
What do OPay's 2025 financials show?
Per the August 13, 2026 Nairametrics report, OPay's gross transaction value rose to $358 billion in 2025 from $166.2 billion, revenue rose to $536.3 million (up 161%), and operating income swung from a $35.1 million loss to a $107.1 million profit.
Is Standard Bank Group investing in OPay?
Not confirmed. Dabafinance reported on August 20, 2026 that Standard Bank Group had entered early-stage talks to take a pre-IPO stake in OPay ahead of the planned roughly $4 billion US listing, but the outlet noted the talks may not result in a deal.
Can I buy OPay shares before the IPO?
Not through a public exchange. OPay is a private company, and any private-share offer you encounter should be verified independently before you rely on it. Segmara does not sell, broker, or arrange purchases of OPay shares.
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Segmara is an independent research site. Segmara does not sell, broker, or arrange share purchases.