OPay Proposes 16 Million ADSs at $19 to $21 in U.S. IPO

OPay Limited filed an amendment Friday, Oct. 23, proposing to sell 16 million American depositary shares at $19 to $21 each in a U.S. initial public offering. The proposed base offering would bring in $304 million to $336 million before underwriting discounts and expenses, adding specific terms to OPay’s earlier IPO plans . Each ADS represents 10 OPay ordinary shares. The company has applied to list the securities on the New York Stock Exchange under the ticker OPAY, subject to final exchange approval. The terms are preliminary, and the registration statement must become effective before the securities can be sold.

Source: TokenPost