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IPO Verdict: Jumia Sure Trades Like “The Amazon (or Alibaba) of Africa”

Not all initial public offerings have been considered hot in 2019, but don’t tell that to Jumia Technologies AG (NYSE: JMIA). This is said to be the first unicorn valuation for an African technology company, as it is called “the Amazon of Africa” in some reports with a large online marketplace in Africa for electronics and many other consumer goods. Not only did it surge on the IPO, it has surged again on its second day of trading.

After selling 13.5 million ADSs at $ 14.50 per share on Friday, Jumia raised about $ 196 million in its offering after being founded in 2012.

Jumia had about 4 million active consumers at the end of 2018, up abou…
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