Optasia Plans IPO on Johannesburg Stock Exchange
Dubai-based Optasia, one of the largest and fastest growing AI-powered fintech platforms providing instant access to financial solutions across 38 countries, has announced plans to undertake a primary issuance of around $75 million on the Johannesburg Stock Exchange (JSE) and a secondary share sale from existing shareholders of at least $300 million.
The main purposes of the offering and listing are to provide the company with access to capital to support growth, both organically and through future potential acquisitions; introduce new shareholders to enhance the liquidity and tradeability of the shares in a regulated market with a market-determined share price, while also providing an exit mechanism for existing shareholders who wish to sell; and enhance Optasia’s public profile and overall market awareness.
Optasia will not receive any proceeds from the sale of secondary shares by the selling shareholders. Finally, the Offering is also expected to include an overallotment option equal to 15% of the offering size, which is customary for transactions of this nature and will comprise of secondary shares only, the company said in a regulatory filing with JSE.
Driving financial inclusion in emerging markets, Optasia, with approximately 121 million monthly active users, processes over 32 million loan transactions per day and has access to over 860 million mobile subscribers through its distribution partners and financial institutions network.
The company has reported a revenue of $117.2 million and adjusted EBIDTA of $53.8 million in the first six months of this year, compared with $151.2 million and $75.1 million in FY2024.
Optasia’s vision is to drive financial empowerment and promote a more inclusive world by leveraging real-time data and its AI-led, in-house-built financial services platform to unlock financial opportunities for underbanked populations across emerging markets.
In line with this vision, Optasia is focused on scaling its operations through the continued expansion of its geographical footprint and the diversification of its product and service offerings.
Crucial Step
Optasia CEO Salvador Anglada said that this marks an important milestone for the company as they were taking a crucial step towards becoming a publicly listed company. From a single-country operation to one of the world’s largest fintechs of its kind, they have built a profitable, capital-light business that continues with purpose to scale.
He said hat for more than a decade, we have been dedicated to enabling financial inclusion across emerging markets, leveraging our AI-powered platform to provide vital access to credit and financial services for millions of underserved customers.
“An IPO will allow us to accelerate our growth, raise our visibility as a leading global fintech and continue innovating to expand financial opportunity where it is needed most. We are proud of the progress we have made and excited for the opportunities ahead as we embark on this next chapter,” he added.
