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.
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?
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 […]