Flutterwave has pushed back on reports that the Nigerian government is investing $75 million in its upcoming IPO.
In a statement to Techpoint Africa, a Flutterwave representative denied the claims, describing the information as inaccurate.
“We’d like to clarify that the information circulating is inaccurate, including the reported $250 million figure,” the company said. “Flutterwave is not in any way close to an IPO, and they have made no announcements regarding a listing or fundraising tied to an IPO as described.”
Earlier today, local Nigerian media reported that the Nigerian government has announced plans to invest $75 million in the company’s planned $250 million Initial Public Offering (IPO).
The proposal was reportedly routed through the Ministry of Finance Incorporated (MoFI), and Flutterwave has since made a formal presentation to Finance Minister and Coordinating Minister for the Economy Wale Edun, and MoFI leadership to advance discussions.
