Key insights
- OPRA is experiencing a stock increase due to news of Opay's potential IPO. OPRA holds a 10% stake in Opay, which is valued at $400M. This may result in a special dividend of $4.50 per share for OPRA shareholders. However, Opay has not confirmed the news, so the IPO is not yet guaranteed.
I've been following OPRA for a long time and have been waiting for a big catalyst: Opay to ipo. Opay is a Nigerian fintech company which Opra has a 10% stake in. For the last year, there's been rumors that Opay would IPO, and OPRA even talked about it in their last earnings report, rating it at 90% likelihood to happen within the 9-15 months.
Today, bloomberg announced Opay was filing for an IPO officially at $4B. Opra's 10% stake is 400M, which is about 25% of its market cap. This will most likely be paid to shareholders as a $4.50 special dividend, whenever the IPO actually occurs.
Stock is up almost 5% today and will probably keep going up next week.
PROBLEM: Opay hasn't confirmed the news yet.
tldr; Buy OPRA (options or stock). OPAY just announced they will IPO for 4B and OPRA owns 10%. ~$4.50 a share special dividend to shareholders.