Jumia plans to raise more than $100 million in secondary shares to drive stalled user growth
JMIAJumia(JMIA) TechCrunch·2024-08-07 07:00

African e-commerce company Jumia is selling 20 million American depositary shares over the next couple of weeks, TechCrunch has learned. The at-the-market transaction is to take advantage of strong results despite a volatile market. Given Jumia's share price of around $5.70 when the stock market opened on Tuesday, the e-commerce company could potentially raise approximately $100 million through its new share offering. However, the final amount will depend on the share price, which has since dropped to $4.90 ...