If you’re looking to get a slice of the biggest e-commerce operator in Africa, get the checkbook ready: there’s finally an established timeline for the initial public offering (IPO) launch by Jumia.
Quartz Africa can now confirm the company’s listing on NYSE will happen in April. After long-running speculation over the past year, Jumia filed its S1 documents to list on the New York Stock Exchange last month.
That timeline, as confirmed by a Jumia spokesperson, is at par with typical listings on the NYSE following recent events. Indeed, in updated S1 documents, Jumia has set a price range of $13 to $16 per share last week. Like most companies intending to list, after setting a share price range, Jumia will now commence an investor roadshow during which its final share price will be settled, depending on gauged interest.
There’s also the possibility of pricing the share higher than the current price range. For example, Lyft, the US ride hailing company which launched its IPO last week initially sought a share price between $62 and $68, but eventually priced the share above that range given significant investor interest. It eventually launched the IPO at $72 per share.
Jumia is offering 13.5 million American depository shares for purchase, its updated filings show. If fully sold, the e-commerce giant with operations in 14 African countries, could raise as much as $216 million.
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