Jumia shares slump as the end of the lock-up period looms
After a brief euphoric spell when the share price of the largest e-commerce operator in Africa surged by over 200%, the forthcoming expiry of the lock-up period threatens to inflict further damage to the share price which has already dipped by more than 40%.
01/10/2019 at 15h26, by Tarik Bargal
A total of 15.5 million American Depository Receipts (ADRs) were sold on the New York Stock Exchange on 11 April at a unit price of $14.5, raising $224.8 million, i.e. 19.9% of the company’s stock. The share price began trading with spectacular gains and had risen by 224% on 1 May to attain a record $46.99.
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