![TrendingEx's tweet photo. Trending: The way Dangote sold shares in Nigeria for ₦525, Opay (a Chinese Co.) skipped its Nigerian market, and sold their own in America for $19 (₦25k), but nobody bought it. [Explained]
They planned to raise $304M by selling 16 million ADSs at $19 each. ADSs is what allow Americans to invest in foreign companies like OPay through US stock exchanges.
In comparison, Dangote’s IPO was sold ₦525 in Nigeria, Opay’s was sold ₦25,600 ($19) in the U.S. {$/1350}
So, for Americans to buy into OPay’s IPO, its shares had to be offered as American Depositary Shares (ADSs),
Which allows them to invest without needing a Nigerian brokerage account or going through the process of accessing the Nigerian stock market. You get? Because Opay is primarily a Nigerian company with Chinese owners.
While OPay had pegged its IPO price at $19, initially projecting as high as $21, yesterday, around 9:30 a.m., it was scheduled to begin trading on the NYSE 🇺🇸
However, by 2 p.m., indications for its ADRs (American Depositary Receipts) showed that investors valued it lower and were offering to buy the shares at $16.25–$16.75, not $19, indicating a potential immediate decline of 12–14%. By 2:30pm, 3pm, no sale, or perhaps even lower offers.
By 3:30 p.m., OPay withdrew and suspended the IPO indefinitely. No trading took place.
Which is highly unusual for an IPO not to trade on its scheduled first day. Last week, reports said Opay was targeting $336M IPO sales and had investors lined up to take $270M which could see it’s valuation hit $4.4 billion.
Analysts suggest the withdrawal may have been triggered by the unexpected low investor valuations, suggesting that the IPO was perhaps overpriced.
OPay, however, claims it was a “regulatory” issue that forced it to “pause” the IPO. Specifically, an outstanding regulatory inquiry in an undisclosed foreign jurisdiction. — It did not disclose what exactly.
Consequently, the IPO was not completed and its shares did and would not begin trading on the NYSE as scheduled.
IPO sales and Stock Trading are two different things. It’s what’s sold in the IPO that people can trade in the NYSE, i.e. 16 million shares. At that point Opay no longer controls the market price.
Dangote Refinery’s IPO was also fixed, at ₦525 (₦5,250). Although minority experts questioned the valuation, arguing that it was in fact, overpriced.
But Dangote’s target market was the average Nigerian, many of whom do not fully understand IPO pricing and valuation. Hence, the aggressive marketing, even at local markets and motor parks.
It’s acutely a similar situation with OPay. The only difference is that the majority of American investors are generally more financially literate and more likely to scrutinise the valuation. Respectfully, no shades.
Theories are now springing arguing that the recorded failure was because Opay is a Chinese company.
Others feel it was a pricing problem and they overreached instead of starting local where their market is. Interestingly, months ago, some Nigerian founders raised these concern and were dragged.
NYSE has also deleted the video of Opay officials ringing the bell at the NYSE yesterday morning, another chaotic indicator.
[Put your Ads here, send a DM📥]
Follow @TrendingEx for daily explanations!](https://pbs.twimg.com/media/HV85D0yXsAAuhkW.jpg)
Olivia
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Ekuma Omaka Okoro, PhD
@Dominiceokoro
Groomed in Finance - £ € $ ¥ N. Predictive Analyst. 'Education is the opposite of blindness.' - Quote is mine.
Lagos, Nigeria
Joined January 2011
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Everything about you becomes beautiful when you are well educated! Yes, education in "books" and manners.
Dr Reuben Abati once said 👏
Trending: The way Dangote sold shares in Nigeria for ₦525, Opay (a Chinese Co.) skipped its Nigerian market, and sold their own in America for $19 (₦25k), but nobody bought it. [Explained]
They planned to raise $304M by selling 16 million ADSs at $19 each. ADSs is what allow Americans to invest in foreign companies like OPay through US stock exchanges.
In comparison, Dangote’s IPO was sold ₦525 in Nigeria, Opay’s was sold ₦25,600 ($19) in the U.S. {$/1350}
So, for Americans to buy into OPay’s IPO, its shares had to be offered as American Depositary Shares (ADSs),
Which allows them to invest without needing a Nigerian brokerage account or going through the process of accessing the Nigerian stock market. You get? Because Opay is primarily a Nigerian company with Chinese owners.
While OPay had pegged its IPO price at $19, initially projecting as high as $21, yesterday, around 9:30 a.m., it was scheduled to begin trading on the NYSE 🇺🇸
However, by 2 p.m., indications for its ADRs (American Depositary Receipts) showed that investors valued it lower and were offering to buy the shares at $16.25–$16.75, not $19, indicating a potential immediate decline of 12–14%. By 2:30pm, 3pm, no sale, or perhaps even lower offers.
By 3:30 p.m., OPay withdrew and suspended the IPO indefinitely. No trading took place.
Which is highly unusual for an IPO not to trade on its scheduled first day. Last week, reports said Opay was targeting $336M IPO sales and had investors lined up to take $270M which could see it’s valuation hit $4.4 billion.
Analysts suggest the withdrawal may have been triggered by the unexpected low investor valuations, suggesting that the IPO was perhaps overpriced.
OPay, however, claims it was a “regulatory” issue that forced it to “pause” the IPO. Specifically, an outstanding regulatory inquiry in an undisclosed foreign jurisdiction. — It did not disclose what exactly.
Consequently, the IPO was not completed and its shares did and would not begin trading on the NYSE as scheduled.
IPO sales and Stock Trading are two different things. It’s what’s sold in the IPO that people can trade in the NYSE, i.e. 16 million shares. At that point Opay no longer controls the market price.
Dangote Refinery’s IPO was also fixed, at ₦525 (₦5,250). Although minority experts questioned the valuation, arguing that it was in fact, overpriced.
But Dangote’s target market was the average Nigerian, many of whom do not fully understand IPO pricing and valuation. Hence, the aggressive marketing, even at local markets and motor parks.
It’s acutely a similar situation with OPay. The only difference is that the majority of American investors are generally more financially literate and more likely to scrutinise the valuation. Respectfully, no shades.
Theories are now springing arguing that the recorded failure was because Opay is a Chinese company.
Others feel it was a pricing problem and they overreached instead of starting local where their market is. Interestingly, months ago, some Nigerian founders raised these concern and were dragged.
NYSE has also deleted the video of Opay officials ringing the bell at the NYSE yesterday morning, another chaotic indicator.
[Put your Ads here, send a DM📥]
Follow @TrendingEx for daily explanations!
![TrendingEx's tweet photo. Trending: The way Dangote sold shares in Nigeria for ₦525, Opay (a Chinese Co.) skipped its Nigerian market, and sold their own in America for $19 (₦25k), but nobody bought it. [Explained]
They planned to raise $304M by selling 16 million ADSs at $19 each. ADSs is what allow Americans to invest in foreign companies like OPay through US stock exchanges.
In comparison, Dangote’s IPO was sold ₦525 in Nigeria, Opay’s was sold ₦25,600 ($19) in the U.S. {$/1350}
So, for Americans to buy into OPay’s IPO, its shares had to be offered as American Depositary Shares (ADSs),
Which allows them to invest without needing a Nigerian brokerage account or going through the process of accessing the Nigerian stock market. You get? Because Opay is primarily a Nigerian company with Chinese owners.
While OPay had pegged its IPO price at $19, initially projecting as high as $21, yesterday, around 9:30 a.m., it was scheduled to begin trading on the NYSE 🇺🇸
However, by 2 p.m., indications for its ADRs (American Depositary Receipts) showed that investors valued it lower and were offering to buy the shares at $16.25–$16.75, not $19, indicating a potential immediate decline of 12–14%. By 2:30pm, 3pm, no sale, or perhaps even lower offers.
By 3:30 p.m., OPay withdrew and suspended the IPO indefinitely. No trading took place.
Which is highly unusual for an IPO not to trade on its scheduled first day. Last week, reports said Opay was targeting $336M IPO sales and had investors lined up to take $270M which could see it’s valuation hit $4.4 billion.
Analysts suggest the withdrawal may have been triggered by the unexpected low investor valuations, suggesting that the IPO was perhaps overpriced.
OPay, however, claims it was a “regulatory” issue that forced it to “pause” the IPO. Specifically, an outstanding regulatory inquiry in an undisclosed foreign jurisdiction. — It did not disclose what exactly.
Consequently, the IPO was not completed and its shares did and would not begin trading on the NYSE as scheduled.
IPO sales and Stock Trading are two different things. It’s what’s sold in the IPO that people can trade in the NYSE, i.e. 16 million shares. At that point Opay no longer controls the market price.
Dangote Refinery’s IPO was also fixed, at ₦525 (₦5,250). Although minority experts questioned the valuation, arguing that it was in fact, overpriced.
But Dangote’s target market was the average Nigerian, many of whom do not fully understand IPO pricing and valuation. Hence, the aggressive marketing, even at local markets and motor parks.
It’s acutely a similar situation with OPay. The only difference is that the majority of American investors are generally more financially literate and more likely to scrutinise the valuation. Respectfully, no shades.
Theories are now springing arguing that the recorded failure was because Opay is a Chinese company.
Others feel it was a pricing problem and they overreached instead of starting local where their market is. Interestingly, months ago, some Nigerian founders raised these concern and were dragged.
NYSE has also deleted the video of Opay officials ringing the bell at the NYSE yesterday morning, another chaotic indicator.
[Put your Ads here, send a DM📥]
Follow @TrendingEx for daily explanations!](https://pbs.twimg.com/media/HV85D01WwAASRqE.jpg)
I bought fuel yesterday in Toronto, Canada, at $1.7999 CAD per litre, and it cost about $98.95 CAD to fill up my tank. This should ideally last me about a week or more.
Now, the minimum wage in Canada is $17.95 CAD per hour, which means someone who works an average of 8 hours a day will earn $143.60 CAD before tax. A day's salary is enough to fuel his or her car for 2–3 weeks. This means that even one of the lowest earners in Canada can afford to own and drive a car daily without the cost of fuel becoming an overwhelming burden. Public education for children is also free and of high quality.
In Nigeria, fuel is about ₦1,300 per litre. It would cost about ₦88,000 to fill up a similar tank. The minimum wage in Nigeria is ₦70,000 per month. This means that an entire month's minimum wage cannot even fill the tank once.
A minimum-wage earner in Nigeria cannot realistically afford to own, fuel, and maintain a car. The same person still has to afford food, rent, children's education, healthcare, electricity, transportation, and other basic necessities. The list goes on.
In fact, even a bank manager in Nigeria earning ₦1 million monthly could still struggle to maintain a decent standard of living after covering these basic expenses.
This is one reason poverty is so widespread in Nigeria. The cost of basic living is simply too high relative to what the average person earns.
You don't just have an income problem in Nigeria. You have an affordability problem.
For millions of Nigerians, simply living a decent life has become too expensive and increasingly impossible.
Beautiful moment siblings surprised their big brother, who stepped up as both their father and mother after their parents passed away, sponsored their education, helped them relocate abroad, and even sponsored their weddings. ❤️
“Make sure you don’t sleep,” one trafficker belted out. “If you sleep, you fall off. And if you fall off, you die!”
Part 1 of my latest investigation for @fijnigeria.
UNDERCOVER: Europe Through the Sahara Desert and the Mediterranean Sea (I) https://t.co/EfKYGPGz5t
The departure wing of Asaba Airport has no restroom. The entire wing! I’ve used that airport several times. So embarrassing!
I made a website about @PeterObi. It details his entire life, his roots, offices held, source of wealth, documented donations, achievements as a governor, and more.
When they ask you what Peter Obi did as governor, send them https://t.co/MJy4SuUuXH
Retweet this to get it far!
“Bail is free. The law does not allow anybody pay bail. If they ask you at the station to pay bail. Just bring out your phone and call the IGP on 08057000001/2 or send voice note to 08057000003.”
— CSP Anitie Okokon
A flyover house in Abiriba, Abia state.
Igbo people money long! No be cho! Cho! Cho!
(Video credit🎥 With_Simon)
This young man named Emeka built a wireless change over system that can be controlled just by dialing a number.
Ndi banyi nwere nka di egwu, that’s why I’m excited about Alex Onyia’s project..
At Sam Mbakwe airport Owerri, a billboard has been put up for our star boy, Egejurum Onyedikachi, to celebrate him as he arrived in Owerri today.
He is 11 years old and the world’s best in the Primary category for Mathematics.
He is so good that he finished the exam and fell asleep.
What a star!
The children of Gonzaga Jesuit college Okija, Anambra state, won 8 Gold medals at the STEM Olympiad in Rome as well. Gold na water.
WOW! WOW! WOW! 🤩💪👏👏
When you are interviewing a Cabo Verde fan outside stadium about gk Vozinha’s ability, and it turns out it is the dad of Vozinha https://t.co/Ee8TTKD0BU
@winexviv Going through your timeline? The joy is inexplicable! More power to your elbow, Sir Alex!
Pan-Africanist scholar Professor PLO Lumumba has urged African governments to take a firm diplomatic stand against South Africa 🇿🇦 over the mistreatment of fellow Africans.
He called on countries to recall their ambassadors from Pretoria for consultations and send South African ambassadors home.
Lumumba described South Africa as “a danger to African unity” and stressed that African leaders must speak out to protect continental solidarity.
In 2 days, the Sterling Bank National Mathematics Quiz will go live for all Nigerian students.
Starting Saturday, June 20, 2026, students from Primary 1 to SS3 across Nigeria will compete online for the prizes.
1st Prize – ₦500,000
2nd Prize – ₦300,000
3rd Prize – ₦200,000
That’s ₦1,000,000 in every quiz dedicated solely to rewarding academic excellence among Nigerian children.
But this is not just about winning money.
It is about building a culture where intelligence is celebrated.
It is about giving every child, whether in Lagos, Enugu, Kano, Bayelsa, Maiduguri, Aba, or a remote village, an opportunity to compete on a national stage.
Competition Schedule
• Saturday
• 6:00 PM – 6:20 PM
• Online nationwide
The top performers will then advance to a live championship session streamed online next day same time, where Nigerians can watch some of the country’s brightest students solve challenging mathematical problems in real time.
To ensure fairness and give more students the opportunity to benefit, every student can only win once.
And here’s what makes it even better:
Every participant will be able to review their questions after the competition, identify their weaknesses, learn from their mistakes, and prepare for the next challenge.
This means that even students who don’t win become better mathematicians.
Parents, teachers, school owners, and students should begin preparing immediately.
The questions will be tough and the competition will be fierce.
Registration is now open:
https://t.co/5dGxuzge4t
Please share this with every child, parent, teacher, school owner, principal, and education stakeholder you know.
Let’s make academic excellence prestigious again.
Dear South Africans,
Remember we did this for you and today you hurt Nigerians
Is this how to appreciate those that suffered for your freedom

In 1976, Nigeria established the Southern Africa Relief Fund (SARF) to support anti-apartheid liberation struggles. Under the military administration of General Olusegun Obasanjo, all Nigerian civil servants and public officers were mandated to contribute 2% of their monthly salaries to the fund, which became popularly known as the "Mandela Tax". [1, 2]
The grassroots and public initiative was highly successful: [1, 2]
•Initial Government Support: General Obasanjo's administration contributed $3.7 million to SARF, alongside personal donations of $3,000 from the General himself and $1,500 from each cabinet member. [1]
•Public Participation: Civil servants forfeited 2% of their salaries, and students actively skipped lunches to donate their allowances. [1]
•Fundraising Milestone: In just six months, popular contributions reached $10.5 million by June 1977.[1]
•Broader Aid: These funds were utilized to bring relief to victims of the apartheid regime, finance educational opportunities, and support the general welfare of liberation movements. This contribution was part of an estimated $61 billion that Nigeria spent between 1960 and 1995 toward the anti-apartheid struggle. [1, 2, 3]
Talented Igbo boy built a car from scratch and used it to drive his family. Igbos are talented. We have things to offer, we are gifted people.
Cybercab driving itself out of the GigaTexas factory
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