Report
OPay cancels priced IPO hours before shares were set to trade
OPay priced shares at $19, then said a regulatory inquiry led it to abandon the offering.
TLDR
The SoftBank-backed payments company had announced a $304 million IPO priced at $19 a share, the bottom of its projected range. Its shares never began trading. OPay said it would not complete the offering because of a recent regulatory inquiry in a jurisdiction it described as immaterial to its operations. The company said it expects the inquiry to wrap up soon and that its operations are unaffected.
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