E-commerce giant Jumia raises $99.6m in secondary shares sale
TLDR
- Jumia completes at-the-market offering of 20,227,736 ADSs at an average price of $4.92, raising $99.6 million.
- CEO Francis Dufay highlights the capital raised will bolster balance sheet and drive growth towards profitability.
- Initial reports projected Jumia could raise over $100 million through the sale of 20 million ADSs at approximately $5.70 each.
New York-listed Jumia, the African e-commerce giant, has completed its at-the-market offering of 20,227,736 American depositary shares (ADSs).
The shares were sold at an average price of $4.92 per ADS, generating gross proceeds of $99.6 million before commissions and expenses. This follows reports from two weeks ago, which anticipated that Jumia could raise over $100 million by selling 20 million ADSs at around $5.70 each.
Jumia's CEO, Francis Dufay, stated that the capital raised will "further strengthen our balance sheet and help us accelerate our growth trajectory as we progress along our path to profitability."
Points clés à retenir
The company's cash position currently stands at $92.8 million, which includes $45.1 million in cash and cash equivalents and $47.7 million in term deposits and other financial assets, as reported in its Q2 2024 financial results. This marks a decline from its liquidity position of $120.6 million in Q4 2023 and $101.5 million in Q1 2024. Despite the financial challenges, Jumia reported 2 million active quarterly customers at the end of Q2 2024, showing a 6.0% increase from Q1 2024, although it represents flat growth year-over-year compared to Q2 2023.
Vous pensez que quelqu'un d'autre devrait voir ça ?
Investir dans cette opportunité et dans d'autres opportunités à travers l'Afrique
Téléchargez l'application daba finance sur votre mobile via
Passer à l'action.
Télécharger l'application
Entrez en partenariat avec nous
Débloquez des opportunités commerciales passionnantes et un potentiel de croissance.
Rejoindre Daba
Devenez membre de notre communauté dynamique et profitez d'avantages exclusifs.
Contactez-nous
Contactez-nous pour toute demande de renseignements, assistance ou collaboration.