Jumia is everywhere on the media with great news of being listed on the New York Stock Exchange (NYSE) with Initial Public Offering (IPO). In this post is a 5 solid facts about Jumia IPO on NYSE.
Jumia is the first Africa tech startup to be listed on NYSE
Though founded in 2012 in Lagos Nigeria as an e-commerce business. Jumia is categorized as a tech startup on the NYSE/SEC with the IPO.
It is beautiful to know as well that Jumia is the first Africa tech startup to be listed on NYSC.
Jumia now worth more than GTBank, the largest bank by Market Cap
In the opening of market for Jumia IPO on 12th April, 2019, Jumia had a great day on the NYSE. The e-commerce company raised more than 75% on its first day as a public company. It is amazing to know that, Jumia at market cap of $3.9 billion now worth more than GTBank. GTBank is Nigeria’s largest bank by market cap before Jumia’s IPO. Jumia stock opened at $14.50 per share and ended at $25.46.
MTN is the largest shareholder of Jumia
Do you know the largest shareholder of Jumia is Africa’s MTN. Based on the list of shareholders of Jumia before IPO, Germany, Belgium, Luxembourg and France had representatives in the shareholder table. South Africa has the largest shareholder which is the source of MTN. Despite the original founders are from Nigeria and Ghana, they were not listed on the shareholder table. In fact, no Nigerian or Ghanaian either company or individual is a shareholder.
All figures valid a minute before NYSE opened on Friday 12th, 2019.
Related: Is Konga planning IPO too?
The stock opened at $14.50 per share and ended at $25.46.
Jumia had a beautiful opening as the stock opened at $14.50 per share and ended at $25.46. The e-commerce company raised more than 75% on its first day as a public company.
Everyone happy for Jumia as it open doors for more Africans
The news is good and everyone happy about it. Being the first tech startup from Africa to be listed on NYSE, it open doors for others to follow suite. In fact, Professor Ndubuisi Ekekwe LinkedIn timeline and email was flooded by lot of Africans asking for process of listing on NYSE.
Hahaha – emails are flooding my blog with people asking how to list in NYSE (New York). Inspired by the Jumia IPO success, some want help to get listed on NYSE. People, this is not like opening Facebook or Instagram account. On this one, our services are not available.Ndubuisi Ekekwe, Entrepreneur | Professor
I think that is a good news that Jumia has opened black race to a bigger opportunity. This is what we call bringing strangers home.