SoftBank-backed African payments giant sprints toward U.S. listing! Opay (OPAY.US) plans to raise $336 million, valuation may exceed $4 billion.

Zhitong Finance APP has learned that Opay Ltd., a payment platform focused on the Nigerian market, plans to raise up to US$336 million through an initial public offering (IPO). According to the company's filing with the U.S. Securities and Exchange Commission (SEC) on Friday, Opay plans to offer 16 million American Depositary Receipts (ADRs) at a price of US$19 to US$21 per share. Each ADR represents 10 ordinary shares of Opay. Based on the midpoint of the offering price range and the number of outstanding ordinary shares listed in the filing, Opay's market value could exceed US$4 billion. The company expects its ADRs to be listed on the New York Stock Exchange under the ticker symbol "OPAY."