---
title: "PalmPay Weighs Hong Kong IPO as OPay Targets US Listing"
description: "PalmPay is reportedly preparing a Hong Kong IPO while raising $200m at a $1b+ valuation, as OPay also pushes toward a public listing."
canonical_url: "https://liners.com/news/palmpay-hong-kong-ipo-plans"
markdown_url: "https://liners.com/news/palmpay-hong-kong-ipo-plans.md"
type: "article"
language: "en"
published_at: "2026-08-04T12:00:51.671Z"
updated_at: "2026-08-04T12:00:51.755Z"
---

# PalmPay Weighs Hong Kong IPO as OPay Targets US Listing

PalmPay is reportedly preparing a Hong Kong IPO while raising $200m at a $1b+ valuation, as OPay also pushes toward a public listing.

## Breadcrumbs

- [News](/news)
- [PalmPay Weighs Hong Kong IPO as OPay Targets US Listing](/news/palmpay-hong-kong-ipo-plans)

## Content

## In Short
- PalmPay is reportedly preparing for a Hong Kong IPO.
- The company is also said to be raising about $200 million at a $1 billion-plus valuation.
- OPay is pursuing a US IPO, setting up a new test of investor demand for African fintech listings.

## What Happened
PalmPay is reportedly preparing for a Hong Kong IPO, according to a Bloomberg report. The move would put [PalmPay](/palmpay) among the next wave of Africa-focused fintechs looking to list publicly.

The report comes as PalmPay is also said to be raising about $200 million in fresh funding, which would value the company at more than $1 billion. An IPO, or initial public offering, is when a company sells shares to the public on a stock exchange, which can provide capital and liquidity for early investors.

PalmPay launched in Nigeria in 2019 with a $40 million seed round led by Chinese investors, including Transsion, NetEase, and MediaTek. It later raised a $100 million Series A in 2021 from investors including AfricInvest, Chuangshi Capital, and Trust Capital. PalmPay offers payments, transfers, bill payments, and merchant services, including through its PalmPartner app.

The Hong Kong listing path mirrors [OPay](/opay), which is also reported to be working toward an IPO. OPay has hired Citigroup, Deutsche Bank, and JPMorgan Chase to lead a planned US listing, with a reported target valuation of about $4 billion. Earlier disclosures linked to Opera, an early backer, pegged OPay at $3.1 billion.

Both companies compete in Nigeria across payments, agent banking, and point-of-sale services. A new Central Bank of Nigeria directive that requires point-of-sale agents to work with only one financial institution could strengthen larger players with big distribution, including OPay.

## Why It Matters
If PalmPay and OPay move ahead, their IPO plans could become a key signal for global investor appetite for African fintech, especially as [Flutterwave](/flutterwave) has paused its IPO plans. Neither PalmPay nor OPay has confirmed listing details publicly, so timing and deal size remain uncertain.

## Sources and products

- [Condia](https://thecondia.com/palmpay-ipo-hongkong)
- [OPay](/opay)
- [PalmPay](/palmpay)

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- [Market Trends](/news)

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