Jumia plans to raise $216 million by offering 13.5 million American depository shares for purchase on the New York Stock Exchange.
This is according to the S1 documents the eCommerce platform filed on the Exchange.
If all shares are sold, the e-commerce giant with operations in 14 African countries, could raise as much as $216 million and the IPO is expected to debut this month (April).
According to reports, Jumia has set a price range of $13 to $16 per share. Like most companies intending to list, after setting a share price range, Jumia will now commence an investor roadshow during which its final share price will be settled, depending on gauged interest Quartz Africa reports.
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