OPay’s executives rang the bell at the New York Stock Exchange on October 30. A few hours later, their US$304 million flotation was off. The Nigeria-focused payments group had priced 16 million American depositary shares at $19 the previous evening, a valuation of around $4 billion. Then, at about 3: 30 p. m. , trading was halted, and not one share traded. The post Chinese regulatory shadow hangs over Nigeria’s OPay IPO failure appeared first on Asia Times.
Chinese regulatory shadow hangs over Nigeria’s OPay IPO failure
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