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BERLIN — German tech investor Rocket Web stated on Thursday it had bought its stake in African ecommerce firm Jumia, which has seen its shares steadily fall since they listed final April on Wall Avenue.
Rocket Web, which had held an 11% stake in Jumia as of Nov. eight, bought its holding between then and the onset of the coronavirus disaster, Bettina Curtze, the agency’s head of finance and investments, informed journalists, declining to be extra exact.
Curtze declined to disclose what proceeds Rocket Web created from the sale, however stated they had been included within the 2.1 billion euros ($2.30 billion) of internet money the corporate had as of March 31.
Jumia shares soared when the corporate turned the primary African tech inventory to listing on Wall Avenue on April 12 however tumbled a month later after Citron Analysis, run by short-seller Andrew Left, questioned a few of its gross sales figures.
Jumia reported in February that its fourth-quarter adjusted loss earlier than curiosity, taxation, depreciation and amortization rose by 5% to 51.2 million euros, and stated it had 232 million euros of money as of the tip of 2019.
Berlin-based Rocket Web has helped arrange a raft of start-ups, which it has later listed, ultimately promoting down most of its stakes.
That has prompted hypothesis that the corporate would possibly search to go non-public, however Curtze declined touch upon that challenge on Thursday.
Rocket now solely holds stakes in furnishings web site Dwelling24 and World Trend Group, which sells vogue on-line, plus stakes in additional than 200 non-public firms.
It stated the full honest worth of these non-public firms was about 1.1 billion euros as of Dec. 31, however famous that the coronavirus disaster may need a major affect on that determine. ($1 = zero.9144 euros) (Reporting by Emma Thomasson Enhancing by Michelle Martin)
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