E-commerce firm Jumia has filed for an Initial Public Offering on the New York Stock Exchange (NYSE), which will make it the first African technology company to list on the exchange.
The timeline of the listing and share price of the IPO has, however, not been stated in the SEC filing application.
In its SEC filing documents, Jumia lists” continued losses as a lack of guarantee that it will achieve or sustain profitability or pay any cash dividends in the foreseeable future” as part of its risk factors to potential investors.
As of Dec. 31 2018, the filings show the company has accumulated losses of nearly $1 billion.
It was founded in Lagos in 2012 and is currently operating in 14 countries including Kenya, Morocco and Egypt.
Here are Jumia’s key shareholders as per the filing;
Meanwhile, Andre Iguodala, NBA player and member of the three-time reigning NBA champion Golden State Warriors, has joined the Board of Directors of Jumia.
Have your say
More Business Headlines
- Nothing in life happens by chance – MTN boss tells youth
- Ghana benefiting from hedged gold prices
- Cedi records marginal appreciation against dollar after weeks of sustained depreciation
- Huawei defies global troubles with accelerating sales growth
- Gov’t urged to introduce legislation to regulate social enterprising
- Christian businessmen can stick to Godly principles and still be successful – T.D Jakes
- Telcos asked to stop sale of sim cards on the streets
- 1D1F: Petersfield & Rey, CASA de Ropa start production
- Cabinet approves Downstream Petroleum Policy
- Gov’t receives €40m grant to promote investments, job creation
- Dutch businesses explore investment opportunities in Ghana’s horticulture sector
- COCOBOD money not solution to free falling cedi – Bentil
- We will bring back the past status of farmers - Dr Akoto
- West Hills Mall gives corporate workers March treat
- Over 30 entries received for Ghana Beverage Awards 2018