Jumia, the African e-commerce platform, could enter the New York Stock Exchange in Q1 2019
Rocket Internet is currently preparing the introduction of Jumia, the African e-commerce platform, on the New York Stock Exchange (NYSE). According to indiscretions collected by Reuters, the Initial Public Offering (IPO) ahead of the stock market, is coordinated by banks Citi, Morgan Stanley and Berenberg. Jumia’s listing on the New York Stock Exchange is just the continuation of Rocket Internet’s recent asset disposal strategy.
The company has already, a few months ago, proceeded to the IPO of its online delivery ordering platforms Delivery Hero and HelloFresh. It has also launched the IPO Home24 online furniture retailer. She has the same intention for her other online furniture retailer, Westwing.
For Jumia, which operates in 14 countries and offers services in various fields such as online sales, hotel room booking, online meal ordering, the IPO could bring its financial value to almost 1 , 5 billion US dollars. MTN, which is a shareholder of the company, could raise 600 million US dollars from the sale of its shares to reduce its debt which went from 57.1 billion rand (4.1 billion US dollars) finally 2017 to 69, R 8 billion (US $ 5.087 billion) in June 2018.