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Jumia, the African Amazon, reports between Wall Street



New York (awp / afp) – Jumia, Africa's leading online auctioneer, took the first step on Wall Street on Friday.

The company's stock is about 30%, as it was originated in the famous New York Stock (NYSE) under the symbol "JMIA", about 14H20 GMT. And in the middle of the session, it rose by 57%.

New York Square, which marks the work of the first IPO of NYSE from a theoretical African front, has been out of the game: he has put a big poster in the orange and black colors of the t company. at the outside and let the leaders leave the clock to mark the start of the session.

The company gave the company the chance to build $ 196 million.

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

Now operating in 14 African countries, the company claims to have 4 million active users, 81,000 salesmen and more than 5,000 staff, according to the most recent surveys at the end of 2018.

Stronger growth, Jumia achieved in 2018 a change in 130.6 million euro, up 40% over a year. And 828.2 million euros had the number of activities carried out on platforms in 2018, which represents a 63% increase on the previous year.

The group is still in deficit.

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. He said that he would receive 13.5 million American Debates (ADR) at a price before 14.50 each unit in the middle of the range of forecasts at first (between 13 and 16). the toll). t

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.

"Radical effects"

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%).

It is a surprise to prepare Wall Street's company, according to analysts.

“Few actions give homage to the African continent, which gives little impact on JMIA,” they recognize. But the economy is growing rapidly, the economy is growing fast. the growing class of middle classes and expanding smartphones, providing interesting opportunities for Jumia.

But they say, investment in society is not endangered because it works in areas "where there is a lack of infrastructure, technology and logistics and where governments don't. sustainable ".

On the CNBC financial information channel, however, Sacha Poignonnec pointed out that the company was "making a huge network of local partners that knew the distinctiveness of towns and areas" and Jumia " "technologies". tools and techniques for delivering their products.

AFP / RP


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