Jumia has now completed the “at the market” offering of 8,962,961 American Depositary Shares. The shares were sold at an average price of $38.90 per ADS, generating aggregate gross proceeds of $348.6 million.
Jumia is taking advantage of its stock market rally to raise an estimated $400 million by selling 9 million shares in a secondary offering.
It comes three months after it raised $243 million through a similar secondary offering.
Jumia has released its earnings report for Q4 2020 with revenues of €41 million beating Q3’s revenue of €33.7 million
The e-commerce company, Jumia hit a record market capitalization of $4.6 billion.
At this time last year, the company’s market cap was less than $1 billion. What’s spurring Jumia’s market rally?
Events, people
When someone in the event’s chat room says “then stop introducing yourselves as the Amazon of Africa,” Klein responded, “We never called ourselves the Amazon of Africa. We call ourselves Jumia.”
Cameroon’s strange and short-lived phone tax law NOVEMBER 1, 2020 This newsletter is a weekly in-depth analysis of tech and innovation in Africa that will serve as a post-pandemic guide. Subscribe here to get it directly in your inbox every Sunday at 3 pm WAT. Hello, As I write this, the Jumia shares on my […]