Boom for e-commerce as jumia, konga plan $1.5b, $3.2b ipos

BOLAJI SAMUEL | February 13, 2019

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e-Commerce giant, Jumia is planning an initial public offering (IPO) in New York this year which will reportedly see the business valued at $1.5 billion, even as MTN Group, Jumia’s largest shareholder is looking to raise up to $600 million from the sale of its shares during the IPO. In May 2018, Jumia was said to be planning an IPO in Frankfurt or London as its mother investment company, Rocket internet was seeking an exit, a report that was neither denied or confirmed. It has also emerged that Konga, arguably Nigeria’s biggest Omni- Channel e-Commerce group, is also set for a major listing on either the London Stock Exchange or New York Stock Exchange (NYSE) by the last quarter of 2020.

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