A pan-African e-commerce platform, Jumia has listed on the New York Stock Exchange and offers share at $14.5 per American Depositary Shares.
The e-commerce company said it plans to target net proceeds of $253 million from 13,500,000 American Depositary Shares,which represent 27 million Ordinary Shares.
A registration statement on Form F-1 relating to the securities had been filed and declared effective by the United States Securities and Exchange Commission as from April 10, 2019.
The company aims to raise funds and boost awareness of it business.
Meanwhile, MasterCard agreed to purchase 50 million Euro’s of Jumia’s ordinary shares in order to grow e-commerce operations and support the digital transformation in Africa.
As part of its effort, Jumia hopes to build electronic payment platforms among consumers and merchants.