Chinese regulatory shadow hangs over Nigeria’s OPay IPO failure

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.
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