Jumia Technologies, a pan-African technology company, has listed on the New York Stock Exchange (NYSE), becoming the first-ever technology company from Africa to list on the world’s largest stock exchange.
Jumia’s stock is soaring on its first day of trading on the New York Stock Exchange. The largest e-commerce operator in Africa started its first day of trading with an opening price of $14.50 but the stock traded at the close of the day at $25.46 per share. Jumia’s historic initial public offering has gone live trading on the New York Stock Exchange—and its stock shot up.
Mr Alex Ibrahim, Head of International Capital Markets at the NYSE stated that “We are very excited about Africa because what we saw here today was amazing. This company priced extremely well, traded up largest volumes. So, that showed the interests by investors not only very large institutions but even the retails here in the U.S., the dynamics was extremely impressive. We are expecting to see other companies from the region in different segments of the tech space to potentially consider U.S. listing.”