Dubai-based AI fintech Optasia plans to raise at least USD 375 mn through an IPO on the Johannesburg Stock Exchange (JSE), according to its intention-to-float (ITF) document (pdf). The company is eyeing a hybrid private-placement IPO, comprising a USD 75 mn primary issuance to fund organic growth and potential acquisitions, and a secondary sale of at least USD 300 mn by existing shareholders.

The transaction will also include a 15% overallotment option, made up entirely of secondary shares. The offer will be made only to qualified investors under private placement exemptions.

About the company: Founded in 2012, Optasia operates in 38 emerging markets across Africa, the Middle East, and Asia. Its AI-led platform provides microfinancing and airtime credit services through distribution partners and financial institutions, giving it access to 860 mn mobile subscribers. The firm serves around 121 mn monthly active users, processing over 32 mn daily loan transactions and distributing more than USD 23 bn in value since 2016.

Optasia reported USD 151.2 mn in revenues in FY 2024 and adjusted EBITDA of USD 75.1 mn, while 1H 2025 revenues surged 90% y-o-y to USD 117.2 mn and EBITDA rose 91% y-o-y to USD 53.8 mn. The company, which has remained profitable and cashflow positive since inception, said it plans to start paying dividends in 2027, targeting a 20% payout ratio of headline earnings per share thereafter.

ADVISORS- Standard Bank, Morgan Stanley, and Investec are joint global coordinators on the offering, while Moelis & Company is acting as independent financial adviser. Webber Wentzel and Milbank LLP are legal counsel to the company, with Bowmans and Linklaters LLP advising the managers.

The news was picked up by Reuters.

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