Friday , September 20 2019
Home / morocco / Jumia entering Wall Street

Jumia entering Wall Street



Jumia, the African leader in online trade, ruled Friday to take the first step on Wall Street by raising $ 196 million at the time of this work. The company will begin its touring session of the famous New York Stock Exchange under the symbol "JMIA".

Considered as one of the obstacles in the African continent, Jumia had sent documents in mid-March, with the papers preparing for the New York Stock Exchange.

She said she would offer 13.5 million American Customs Receipts (ADR) at a cost of $ 14.50 per unit, in the middle of her range of initial previews (between $ 13 and $ 16).

ADRs are qualifications that allow a foreign company to be listed in the United States without complying with the heavy regulatory requirements of the country.

Established in 2012 in Nigeria, Jumia provides a platform for practitioners who link with retailers, a logic service which provides access to shipping and retail delivery from retailers. to users, and a pay service that enables communication between active users.

Now in 14 countries in Africa, the company is filled with new accounts, at the end of 2018, 4 million active users and 81,000 vendors.

Growing strength, the company achieved in 2018 trade of 130.6 million euro, up 40% over a year. And the number of activities carried out on their platforms in 2018 rose to 828.2 million euro, which equates to a 63% increase over the previous year.

The IPO is "only a step, we are only at the beginning of a long and big journey," said a narrative in the recital of Sacha Poignonnec and Jeremy Hodara, co-founders and co-directors of Jumia.

“We will continue to focus on our mission and even harder work to help all consumers, retailers, partners and stakeholders of this technological revolution,” said Cllr. them.

The growing portfolio of investors includes Jumia in the economy such as Pernod-Ricard, Axa, Orange and Goldman Sachs.

Its lead shareholders are the activist from South Africa MTN (up to 30%), Roman company Rocket Internet (21%) and the Luxembourg Millicom group (10%).


Source link