Jumia Technologies AG (“Jumia”) (NYSE: JMIA), the leading pan-African e-commerce platform, has officially announced its listing on the New York Stock Exchange.
This listing is the result of team success, and all the Jumia employees across Africa rang the “bell” at the same time in each country and in New York, this listing is the result of team success.
Jumia Technologies AG (“Jumia”) (NYSE:JMIA) listed on the New York Stock Exchange; becomes the first African Tech Company to list on the largest global exchange. #JMIA @NYSE pic.twitter.com/Bif6hRU7pz
— Jumia Group (@Jumia_Group) April 12, 2019
Founded in 2012, Jumia started a mission to improve the quality of everyday life in Africa, by leveraging technology to deliver innovative, convenient and affordable online services to consumers. Jumia further empowers businesses to grow, by using its platform to reach and serve consumers across the continent. Jumia is currently active in 14 African countries with more than 81,000 active sellers transacting online with millions of consumers. The e-commerce platform directly employs more than 5,000 team members in Africa.
“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. We are going to continue to focus on our mission and to work even harder to help consumers, sellers, partners and all stakeholders benefit from this technological revolution.” said Sacha Poignonnec and Jeremy Hodara, co-founders and co-chief executives.
In an updated SEC filing, Jumia indicated it is offering 13,500,000 ADR shares, for an opening price spread of $13 to $16 per share (the shares actually opened at $14.50), representing 17.6 per cent of all company shares. The IPO could raise up to $216 million for the internet venture.
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