Fresh from filing for an IPO on the New York Stock Exchange, online giant Jumia plans to offer 13,500,000 ADR shares, for an offering price of $13 to $16 per share to trade under the ticker symbol “JMIA.”
It plans to raise up to $216 million from the IPO.
With its headquarters in Nigeria and 4,000 employees across 14 countries on the continent , Jumia has the distinction of being the first African startup to list on a major global exchange.
Already, Mastercard Europe has agreed upfront to buy $50 million in Jumia ordinary shares.
Assessing the company’s new strategy, the CEO of Jumia, Sacha Poignonnec said:
“You’ll see in the prospectus that last year Jumia had 4 million consumers in countries that cover the vast majority of Africa.We’re really focused on growing our existing business, leadership position, number of sellers and consumer adoption in those markets,” Poignonnec said.