African e-commerce platform Jumia files for an estimated $500 million US IPO

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Jumia, an African e-commerce platform backed by MTN and Rocket Internet, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise $500 million.

The Berlin, Germany-based company was founded in 2012 and booked $147 million in sales for the 12 months ended December 31, 2018. It plans to list on the NYSE under the symbol JMIA. Jumia filed confidentially on November 19, 2018. Morgan Stanley, Citi, Berenberg Bank and RBC Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.

The article African e-commerce platform Jumia files for an estimated $500 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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