One of the world's largest internet consumer brands with hundreds of millions of users worldwide - Opera Limited - announced that it had monetized 29% of its stake in OPay Limited ("OPay"), leading to a US$31.1 million gain as opposed to the carrying amount of the shares sold.
Headquartered in Oslo, Norway, Opera is a global web innovator whose browsers, news products and fintech solutions are the trusted choice of hundreds of millions of users worldwide.
Speaking on the move to monetize part of its stake, Frode Jacobsen, CFO of Opera, said, "We are impressed with OPay's rapid growth and its emergence as a leading African fintech company. At this time, Opera has decided to realize gains on 29% of its OPay ownership, while retaining 71% of its shares as OPay continues its growth journey."
"This transaction demonstrates the value Opera has created for its shareholders also beyond its core growth business, through concentrated investments in companies whose business models and markets we understand well - including OPay, Nanobank, and Starmaker," he added.
Norway in focus
GDP: $403.336 billion compared to Sweden's $530.884 billion in 2019
Population: 5,347,896 compared to Sweden's in 10,278,887 in 2019
GDP per capita: $75,419 compared to Sweden's in $51,648 2019