Why Jumia is selling $7.9million shares

Jumia

Jumia Technologies AG (“Jumia”), the leading pan-African e-commerce platform, today announced that it had entered into an “at the market offering” sales agreement with Citigroup Global Markets Inc. (“Citi”) for an aggregate 7,969,984 of Jumia’s ADSs.

Jumia 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.

A shelf registration statement was previously filed with the SEC and declared effective by the SEC on July 30, 2020. A prospectus supplement adds to, updates or otherwise changes information contained in the accompanying prospectus and has been filed with the SEC and is available on the SEC’s website located at www.sec.gov.

Prospective investors should read the prospectus, the prospectus supplement and other documents the Company has filed with the SEC (some of which are incorporated by reference into the prospectus and prospectus supplement) for more complete information about the Company, the at the market offering and the risks the Company currently is facing.

You may obtain copies of the prospectus supplement and accompanying prospectus relating to the offering without charge by visiting the SEC’s website at www.sec.gov.

Alternatively, Jumia, Citi or any dealer participating in the offering will arrange to send you the prospectus and the prospectus supplement if you request them by writing to Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717; (Tel: 800-831-9146).

Jumia’s ADSs are listed on the New York Stock Exchange, or NYSE, under the symbol “JMIA.” On November 27, 2020, the closing sale price of our ADSs was $36.89 per ADS.

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