OPRA Draws Attention on OPay IPO Rumors

The poster’s DD focuses on Opera Limited (OPRA). The core thesis is that OPRA holds a minority stake in the African/Nigerian fintech company OPay, and Bloomberg reported on May 1, 2026 that OPay had hired Citigroup, Deutsche Bank, and JPMorgan Chase to pursue a U.S. IPO, targeting a valuation of about $4 billion. Based on this, the poster estimates that if OPRA owns about 10% of OPay, the nominal value of that stake would be about $400 million, and argues this equals roughly 25% of OPRA’s market cap and could ultimately be returned to shareholders in the form of a special dividend of about $4.50 per share. The position screenshot shows the poster indeed has a highly concentrated exposure: about 1,521 shares of OPRA at an average cost of $18.44, with a stock market value of about $28,024, accounting for 44.3% of the portfolio; there is also about $25,890 in options positions, including 100 contracts of May 15, 2026 20C, 40 contracts of June 18, 2026 20C, 70 contracts of July 17, 2026 21C, 10 contracts of October 16, 2026 17C, and 16 contracts of December 17, 2027 10C. Overall, this is a clearly bullish bet on a near-term catalyst with high leverage. The catalysts in the post are the formal advancement of OPay’s IPO, confirmation of valuation, market revaluation of OPRA’s stake, and potential buybacks/special dividends. The implicit assumptions include that OPay can successfully go public, that the valuation will be close to or above $4 billion, that OPRA’s ownership stake is close to 10%, that the post-listing stake can be monetized, and that management will return a large portion of the monetization proceeds to shareholders. The main weaknesses are: the Bloomberg report is still based on anonymous sources, and neither OPay nor the banks confirmed it; hiring banks for an IPO does not mean a listing is certain, nor does it confirm valuation or timing; public information suggests OPRA’s stake is closer to 9.4% rather than exactly 10%; the $4.50 per-share special dividend is the poster’s own calculation, not a company commitment; and based on OPRA’s roughly $18 share price and roughly $3.2 billion market cap near the time of the scrape, a $400 million stake does not equal 25% of market cap, so the market-cap reference appears clearly disputed or outdated. Overall, the post is a bullish trading idea centered on an asset revaluation event, but the evidence chain makes a large leap from “OPay may IPO” to “OPRA shareholders receive a large special dividend.”

The comment sample is very small, with about 18 total comments and limited substantive discussion; most of it is WSB-style bandwagoning, jokes, and memes. Supporters mainly argue that OPRA’s browser business itself still has a revenue base, and some say they already held OPRA while also adding that Opera’s MiniPay product and browser ecosystem may still have monetization potential. Other users used typical WSB language such as “You son of a bitch, I'm in” to say they were following the trade, while OP replied with “To the moon Peter,” which is more emotional support than independent analysis. Skeptical or cautious views focus on trust, governance, and geopolitical risks related to a “Nigerian company”; one user directly said they had trust issues with Nigerian companies and needed to check fundamentals and geopolitical risks. OP’s main response was that the biggest risk is the IPO not moving forward, but even if it fails, OPRA would not fall much because the company had just announced a $300 million buyback. There were not many highly upvoted rebuttals. The “Nigerian prince” jokes in the comments effectively reflect the community’s concerns about the reputation of Nigerian financial companies and scam stereotypes, but they did not develop into serious due diligence. The overall consensus leans toward treating the OPay IPO as a short-term upside catalyst, while the disagreements are whether the catalyst is reliable, whether Nigerian fintech assets deserve a high valuation, and whether OPRA would actually return proceeds through a special dividend. Because the comment count is small, the score is low, and memes make up a high proportion of the discussion, the community discussion should not be viewed as strong validation.