OPay Ltd. (OPAY) Postpones IPO Indefinitely After it Did NOT Trade Today – Street Sources
OPay Ltd. (OPAY), the Nigerian FinTech app, has postponed its IPO indefinitely after the stock did not start trading today, as expected, according to Street sources familiar with the situation, IPOScoop has learned. Clients of a major firm have been notified that it was withdrawing from the IPO.
It’s highly unusual for an IPO to not trade on its scheduled first day of trading. As of 3:15 P.M. EDT today, OPay had not started trading – an unusual circumstance as CNBC noted in its coverage.
The IPO – an ADS offering – had been priced at $19.00 – the low end of its range.
(For more information, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Source: https://www.iposcoop.com/opay-ltd-opay-postpones-ipo-indefinitely-after-it-did-not-trade-today-street-sources/
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