OPay Limited has postponed its planned initial public offering (IPO) on the New York Stock Exchange (NYSE) following an ongoing regulatory inquiry, assuring customers that the development will not disrupt its financial services, RaveNewsOnline reports.
The fintech company announced the decision in a statement addressed to its customers, business partners and the general public, explaining that it was reached after careful consideration of the circumstances surrounding the regulatory process.
According to OPay, the postponement of the proposed listing is in the best interests of the company and its stakeholders while the inquiry remains ongoing.
The company stressed that the decision does not affect its business operations or the delivery of services in Nigeria and other markets where it operates.
OPay said its platforms remain fully operational, allowing customers to continue carrying out financial transactions without interruption.
Customers can still send and receive money, make payments, save funds and access other financial services through the company’s platforms as usual.
The clarification is expected to ease concerns among customers, merchants, agents and business partners over the possible implications of the postponed stock market listing.
OPay also expressed appreciation to its customers, merchants, agents, employees and business partners for their continued trust, loyalty and support.
The company reiterated its commitment to using technology to advance financial inclusion and expand access to convenient, reliable and accessible financial services.
