Jumia has petitioned for a New York first sale of stock, which could esteem the firm at $1.6 at least billion.
Jumia, established in 2012 offers internet shopping, coordinations and installment administrations, however is losing cash. The organization says its business is extending, and the landmass’ improvement will improve it a market, with a developing youthful populace, more framework ventures, urbanization and quick financial development.
The New York documenting did not say what number of offers Jumia would sell, nor at what cost. Morgan Stanley, Citigroup, Berenberg and RBC Capital Markets are driving the IPO.
In December, Jumia was esteemed at 1.4 billion euros ($1.6 billion) with offers at 14.74 euros, as per the recording.
Jumia, which currently considers Nigeria its biggest market, profits both selling its own items, and taking a cut from outsider deals. In 2018, incomes were 130.6 million euros, up from 94 million euros the earlier year.
Be that as it may, misfortunes additionally ascended, from 165.4 million euros in 2017 to 170.4 million euros in 2018. Before the finish of December, amassed misfortunes were 862 million euros, the firm said.
In the IPO outline Jumia said that the estimation of merchandise sold on its stages is expanding at a more quick pace than misfortunes – from 507.1 million euros in 2017 to 828.2 million euros in 2018.
Jumia’s dynamic clients, individuals who purchase something at any rate once in the previous year, expanded to 4 million toward the finish of last December structure 2.7 million every year sooner.
Aside from Rocket Internet, which claimed 21.74 percent of Jumia as of the finish of December, MTN Group held 31.28 percent. Other, littler investors incorporate Millicom International, AXA Africa Holding and Goldman Sachs.