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JMIA - Jumia Technologies under pressure after filing to sell up to 7.9M of ADS
Jumia Technologies AG American Depositary Shares each representing two
Jumia Technologies ([[JMIA]] -10.4%) have entered into an At the Market Offering Agreement with Citigroup Global Markets, pursuant to which the Company will sell an aggregate of ~7.9M shares of the Company’s ADSs.The Company intends to use the net proceeds from this offering for general corporate purposes.The amount of net proceeds will depend upon the market price at which the ADSs are sold. Jumia’s ADSs are listed on the New York Stock Exchange, or NYSE, under the symbol 'JMIA' and the closing sale price is $36.89 per ADS as on Nov.27.