(Ecofin Agency) - German Rocket Internet is currently preparing the introduction of Jumia, the African E-commerce platform, on the New York Stock Exchange (NYSE). According to leaks collected by Reuters, the IPO of that operation is conducted by Citi, Bank, Morgan Stanley and Berenberg. Jumia’s listing on the NYSE is just the continuity of the asset selling strategy conducted since months by Rocket Internet.
Indeed, some months ago, the company listed Delivery Hero and HelloFresh. It also listed Home24 and plans to do the same for Westwing.
For Jumia, which operates in fourteen countries, the listing could boost its financial value to about $1.5 billion. MTN which is one of its shareholders could raise $600 million from the sales of its shares in Jumia to reduce its debts that grew from ZAR57.1 billion ($4.1 billion) in late 2017 to ZAR69.8 billion ($5.087 million) in June 2018.