Jumia (JMIA) began trading on the NYSE on Fri 12 April 2019

“The Amazon of Africa ” has 4 million active customers as of the fourth quarter of 2018, the company said in its S-1 filing. Jumia operates in 14 African countries, including Ghana, Kenya, Ivory Coast, Morocco and Egypt.  Some of Jumia’s biggest customers are Apple, HP and Huawei.

• Priced 13.5 mln ADS IPO at $14.50, the midpoint of the expected $13.00-16.00 range
• Opened for trading at $18.95 
• The largest e-commerce operator in Africa, Jumia Technologies, surged more than 75% on its first day of trading at the New York Stock Exchange on Friday.

Jumia co-CEO Sacha Poignonnec, left, applauds as Jumia Nigeria CEO Juliet Anammah, center, rings a ceremonial bell when the company’s stock begins trading, on the floor of the New York Stock Exchange, Friday, April 12, 2019.

The company was founded in 2012 as Africa Internet Group and is headquartered in Berlin, Germany. Shareholders include the Berlin-based incubator and venture-capital firm Rocket Internet SE, which helped the company with its founding and owns a 20.6% stake. South African company Mobile Telephone Networks Holdings Ltd. owns a 29.7% stake. Other early investors include French insurer Axa CS,  and French telecoms company Orange Sa.