Jumia is preparing to list on New York Stock Exchange for $1.1 Billion locking out Nigerian Investors
April 10, 2019 by admin
Filed under Nigeria Stock Exchange
The company is expected to go public to raise about $250 million to fund its business. The company is a market hub for online selling and buying. They started in Nigeria and they can be compared to Amazon and Alibaba. Jumia is the place to go to buy household products like technology devices, sneakers, home goods, toilet papers, sneakers and they offer services like hotel bookings, food deliveries, and other things.
The company is valued at $1.1 billion dollars. ” The filing documents show that the company‘s operating losses increased from $173-million in 2017 to $190-million in 2018. On the other hand, turnover increased at a faster rate, suggesting the company is heading in the direction of profitability” – MSN.
If the company lists on