Dubai-based fintech firm Optasia, partly owned by Ethos Capital, plans to raise up to R6.3 billion ($375 million) through an initial public offering on the Johannesburg Stock Exchange (JSE), potentially the largest fintech listing in the bourse’s history. Optasia uses artificial intelligence and mobile data analytics to offer instant microloans, airtime advances, and other credit products to people without traditional credit histories, mainly in emerging markets.

The offering will include a R1.3 billion ($75 million) primary issue to fund expansion and acquisitions, alongside a R5 billion ($300 million) secondary sale by existing shareholders through a private placement to institutional investors. Pending regulatory approval, shares will trade under the ticker OPA in the Finance and Credit Services sector.

Founded in 2012, Optasia operates in 38 countries across Africa, the Middle East, and Asia. It partners with 49 mobile operators and 13 financial institutions, serving 121 million users. The company processes 32 million microloan transactions daily and has disbursed more than $23 billion in credit since inception, underscoring its growing influence in emerging-market financial inclusion.