Technology
Jumia Jumps 204% in Three Days
- Jumia Jumps 204% in Three Days
Jumia Technologies has risen by 203.85 per cent since listed on the New York Stock Exchange last week.
The ‘Amazon of Africa’ was listed at $14.50 a share during its Initial Public Offer (IPO) on Friday and quickly rose by 75.59 per cent within 24 hours to $25.46 per unit share, before jumping to $43.04 on Tuesday to bring its total gains in the last three days to 204 per cent.
Founded in Lagos, Nigeria in 2012, Jumia now operates in 14 countries across the African continent. The E-commerce giant sells everything from electronics to clothes, and there is a hotel and flight booking site, and a takeaway food delivery platform.
In Kenya, Jumia partnered with French supermarket giant Carrefour to offer online deliveries.
The company’s market capitalization currently stood at $3.29 billion.