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Jumia seeks USD 1.5 bln value in US IPO, could help MTN cut debt - report

2019-02-11 09:50:00| Telecompaper Headlines

(Telecompaper) African online retailer Jumia is planning an initial public offering in New York this year that could value the business at about USD 1.5 billion, Bloomberg reported, citing people familiar with the matter. Jumia's largest shareholder MTN Group is planning to raise as much as USD 600 million by selling its shares through the IPO, said one of the people, who asked not to be identified as the information is not public. MTN and Jumia declined to comment.

Tags: report cut usd debt

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