Fintech unicorn OPay has received board and shareholder approval to pursue a secondary listing on the Nigerian Exchange Limited (NGX) following its planned primary listing on the New York Stock Exchange. The company disclosed this in a recent US SEC Form F-1 filing.

OPay cautioned that, initially, shares traded on the NGX may not be fungible with its American Depositary Shares on the NYSE, which could lead to liquidity fragmentation and price discrepancies between the two markets. The company is targeting a 4 billion dollar valuation for its US IPO, backed by significant growth in transaction volume and lending activities in 2025. The secondary listing remains subject to market conditions and regulatory approvals in Nigeria.