The SoftBank-backed Nigeria-focused payments platform has picked Citigroup, Deutsche Bank and JPMorgan Chase, targeting a valuation of about $4 billion.
People familiar with the matter said the company is preparing to list in the United States and could sell shares later this year.
The plans would mark a significant capital-markets step for Opay as it seeks to expand investor backing through a US flotation.
Can Opay's Nigerian street-agent model convince Wall Street it is worth a $4 billion valuation?
With a massive tax dispute at home, is Opay's high-stakes US IPO a masterstroke or a massive gamble?
As the new Texas Stock Exchange launches, is the NYSE the right choice for Africa's next big fintech IPO?