Optasia Raises $345M in South Africa’s Largest Fintech IPO
TLDR
- Dubai-based fintech group Optasia officially listed on the Johannesburg Stock Exchange (JSE) on Tuesday, November 4, after a R6.5 billion ($345 million)
- The offering was several times oversubscribed, resulting in Optasia having a market capitalization of R23.5 billion ($1.4 billion)
- The stock opened at R20.75 before settling around R19.71, making it South Africa’s biggest initial public offering this year and largest fintech listing since 2018
Dubai-based fintech group Optasia officially listed on the Johannesburg Stock Exchange (JSE) on Tuesday, November 4, after a R6.5 billion ($345 million) initial public offering priced at R19 per share, the top of its range. The offering was several times oversubscribed, resulting in Optasia having a market capitalization of R23.5 billion ($1.4 billion).
The stock opened at R20.75 before settling around R19.71, making it South Africa’s biggest initial public offering this year and largest fintech listing since 2018. Optasia trades on the JSE’s main board under the ticker OPA in the Consumer Lending – Finance Credit Services sector.
Optasia’s AI-powered platform extends credit and digital financial services to over 120 million users across 38 countries, processing more than 30 million loan transactions daily. CEO Salvador Anglada called the listing “a celebration of belief in our purpose, our people, and our potential.”
Post-listing, FirstRand, Chronos Capital, TRG, and other institutional investors hold significant stakes, with FirstRand acquiring 20.1% in an off-market deal ahead of the debut.
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Key Takeaways
Optasia’s blockbuster debut marks a milestone for Africa’s fintech sector and a revival for the JSE’s listings pipeline. With a R23.5 billion valuation, the IPO underscores strong investor appetite for AI-driven financial technology. Optasia joins the ranks of billion-dollar African fintechs such as Flutterwave, TymeBank, and Airtel Money, and sets a precedent for homegrown innovators to tap regional exchanges. The firm plans to expand across Africa, Asia, and Latin America, introducing buy-now-pay-later and virtual credit products, while exploring acquisitions to accelerate growth. Founder Bassim Haidar said the decision to list in Africa was “a natural one,” highlighting the continent’s growing role in global tech finance. Backed by Vodacom and MTN partnerships, Optasia’s scalable, AI-powered lending model positions it to bridge digital financial gaps in emerging markets. The successful listing may encourage other African tech firms to consider domestic IPOs amid global demand for scalable, impact-driven businesses.
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