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Nigerian fintech OPay abruptly pulls US IPO amid inquiry

Original: OPay abruptly pulls US IPO as inquiry derails offering Nigerian fintech OPay rang the opening bell for its IPO on Friday

Nigerian fintech OPay pulled its US initial public offering at the last minute. The company rang the opening bell on Friday but its shares never began trading, and it later announced it would not complete the offering that day. The abrupt withdrawal came as an inquiry derailed the listing, prompting scrutiny of the offering process and the company's regulatory standing.

Why now: The sudden collapse of a high-profile IPO at the opening bell, tied to an inquiry, is drawing attention to regulatory risks facing fintech listings.

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Evidence

• OPay abruptly pulls US IPO as inquiry derails offering Nigerian fintech OPay rang the opening bell for its IPO on Friday but never started trading, later announcing that it decided to not complete the offering that day. https://www. americanbanker.com/news/o-no-a… · AlexJimenez@mas.to

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