By Dana Sanchez
Nigeria-based e-commerce company Jumia has filed documents with the U.S. Securities & Exchange Commission for a long-awaited initial public offering. If all goes smoothly, Jumia will be the first venture-backed African tech company valued at more than $1 billion to list on a major global stock exchange.
Still to be determined are Jumia’s valuation on the NYSE, its share price and the date when public stock sales will be for sale.
There are also no guarantees, based on past performance, that Jumia will make a profit anytime soon, Quartz reported.
Jumia claims to be the only e-commerce company operating successfully in multiple African regions, and has 4 million active customers —
people who bought something at least once in the past year — as of December 2018. A pan-African e-commerce conglomerate, Jumia’s businesses include financial services, search engine, food and beverage and travel.
Germany-based Rocket Internet owned 21.74 percent of Jumia as of the end of 2018 and Click here to read entire article