Jumia had a great day on the New York Stock Exchange on Friday. The ecommerce company surged more than 75% on its first day as a public company. People, Jumia at market cap of $3.9 billion, is now worth more than GTBank, Nigeria’s largest bank by market cap. The stock opened at $14.50 per share and ended at $25.46.
Jumia has done it: it has filed paperwork at the NYSE to go public. Last week, I wrote that its IPO was “imminent” after it hired an NBA superstar: “It is very evident that Jumia will like to list in U.S. as early as possible. How? It has brought Andre Iguodala into its Board. Andre plays for Golden State Warriors, an NBA team. I do think with Andre, Jumia will lift its brand in U.S. as it pushes for the journey to IPO, possibly in U.S.”
1. Advance your career with Tekedia Mini-MBA (Feb 7 – May 7, 2022): 140 global faculty, online, self-paced, $140 (or N60,000 naira). Click and register here.
2. Click to join Tekedia Capital Syndicate and own a piece of Africa’s finest startups with a minimum of $10,000 investment.