Jumia Technologies (JMIA) IPO Opens 31% Higher

Today's IPO for Africa's largest e-commerce platform, Jumia Technologies (NASDAQ: JMIA) opend for trading at $18.95 after pricing 3.5 million ADSs at $14.50, the middle of the $13 to $16 range.

Morgan Stanley, Citi, Berenberg Bank and RBC Capital Markets led the offering.

Jumia is the leading pan-African e-commerce platform active in six regions in Africa, which consist of 14 countries. Our platform consists of our marketplace, which connects sellers with consumers, our logistics service, which enables the shipment and delivery of packages from sellers to consumers, and our payment service, which facilitates transactions among participants active on our platform in selected markets. Our mission is to improve the quality of everyday life in Africa by leveraging technology to deliver innovative, convenient and affordable online services to consumers, while helping businesses grow as they use our platform to reach and serve consumers.

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