SoftBank-Backed Opay Hires Citi, Deutsche, JPMorgan for US IPO

Opay Digital Services Ltd. is working with Citigroup Inc., Deutsche Bank AG, and JPMorgan Chase & Co. as the Nigeria-focused payments platform prepares for an initial public offering, according to people with knowledge of the matter.

The SoftBank Group Corp.-backed company is planning to list in the US and is seeking a valuation of about $4 billion, said the people, who asked to not to be identified as the information is still private. The company may sell the shares later this year, they said.

Representatives for Opay, Citigroup, Deutsche Bank and JPMorgan declined to comment.

Nigeria, Africa’s ...