Optasia aiming for R8bn IPO on the JSE

Optasia has announced its plans to list on the Johannesburg Stock Exchange (JSE), marking a significant milestone for both the company and the JSE’s expanding fintech sector.

The listing by the global fintech enabler is expected to raise around R8 billion (approximately $375 million), marking one of the largest fintech listings on the local bourse.

Optasia which operates in more than 30 countries uses AI-driven technology to provide credit and financial services to underserved customers across emerging markets.

It hopes to raise about R1.3 billion to fund growth, while current shareholders will sell shares worth at least R5 billion. 

The offer, aimed at qualified investors, is priced between R15.50 and R19.00 a share, with final pricing to be set after demand is assessed.

Speaking to Stephen Grootes on The Money Show, Salvador Anglada, CEO of Optasia says they provide a service in a market which is underserved, and expected to grow exponentially in the coming years. 

"We are the leading AI-driven fintech platform for micro credit in the world, definitely in emerging markets. We are coming here to solve a problem that exists in those markets," says Anglada.

"You have more than 2 billion people in the world that are underbanked. They don't have a bank account, they are underserved. No one is able to provide credit or financial services related to loans and credit," adds Anglada.

Listen to the interview in the audio player below.