Fintech News

Opera Monetizes Part of its OPay Stake

Opera Monetizes Part of its OPay Stake

Opera Limited, one of the world’s largest internet consumer brands with hundreds of millions of users worldwide, announced that it has monetized 29% of its stake in OPay Limited (“OPay”), resulting in a gain of US$31.1 million versus the carrying amount of the shares sold.

Read More: EY Announces Industry Cloud Innovations to Help Organizations Accelerate Business Transformation

“We are impressed with OPay’s rapid growth and its emergence as a leading African fintech company,” commented Mr. Frode Jacobsen, CFO of Opera. “At this time, Opera has decided to realize gains on 29% of its OPay ownership, while retaining 71% of its shares as OPay continues its growth journey. This transaction demonstrates the value Opera has created for its shareholders also beyond its core growth business, through concentrated investments in companies whose business models and markets we understand well – including OPay, Nanobank, and Starmaker.”

Read More: Mogo Announces Close of Previously Announced Increased Investment in Canada’s Leading Crypto Platform, Coinsquare

Opera is a global web innovator. Opera’s browsers, news products and fintech solutions are the trusted choice of hundreds of millions of users worldwide. Opera is headquartered in Oslo, Norway and listed on the NASDAQ stock exchange (OPRA).

Read More: AppBrilliance Unveils ‘Push-to-Business’ Digital Payments Model; Solidifies Leadership with Strategic Appointment of Steve Mott to Advisory Board

Related posts

SUNRATE Announces Strategic Partnership with Agoda

Fintech News Desk

Daily Fintech Series Roundup: Top Fintech News, Analytics and Insights

Fintech Staff Writer

Jack Henry & Associates Announces Next-Generation Technology Strategy

Fintech News Desk