MTN preparing for Jumia share sale - Report

Jamie McKane

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MTN preparing for Jumia share sale - Report

African online retailer Jumia is planning an initial public offering in New York this year that could value the business at about $1.5 billion, according to people familiar with the matter.

Jumia’s largest shareholder MTN Group Ltd. is planning to raise as much as $600 million from selling its shares through the IPO, said one of the people, who asked not to be identified as the information isn’t public.

[Bloomberg]
 
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