By the listing, Jumia became the first startup from Africa to list on a major global exchange.According to the SEC filing, Jumia indicated it was offering 13,500,000 ADR shares for an opening price spread of $13 to $16 per share, representing 17.6 per cent of all company shares. The IPO could raise up to $216 million for the internet venture.
Jumia is currently active in Nigeria and 13 African countries with more than 8,000 active sellers transacting online with millions of consumers. The e-commerce platform directly employs more than 5,000 team members in Africa. Co-founders and co-chief executives, Sacha Poignonnec and Jeremy Hodara, said: “This achievement has been made possible thanks to the hard work of our teams, the trust of our consumers, as well as the commitment of our sellers and partners. All stakeholders deserve credit for this milestone, and we are just at the beginning of a long and great journey.
Source: Digital Coin News (digitalcoinnews.net)
Jumia is not an African company
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