Jumia's $99.6M Secondary Shares Transaction: A Shift in African E-Commerce

Friday, 16 August 2024, 15:18

African e-commerce company Jumia has successfully completed a secondary shares sale, raising $99.6 million through the offering of over 20 million ADSs. This key financial maneuver highlights Jumia’s position in the competitive African e-commerce landscape. The e-tailer sold the shares at an average price that reflects market trends and investor confidence.
TechCrunch
Jumia's $99.6M Secondary Shares Transaction: A Shift in African E-Commerce

African E-Commerce Company Jumia's Sale of Shares

African e-commerce giant Jumia, known for its significant role in the online retail space, has completed a substantial secondary shares sale, raising $99.6 million. This transaction involved the offering of 20,227,736 American depositary shares (ADSs), a move that showcases not only Jumia's strategic approach but also the evolving dynamics of African e-commerce.

Details of the Transaction

  • Transaction Amount: $99.6 million
  • Number of ADSs Sold: 20 million
  • Average Sale Price: Approximately $5.70

By completing this at-the-market transaction, Jumia is setting a precedent for investor interest and financial viability in the African technology and e-commerce sector.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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