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Latham & Watkins Again Advises Citigroup on Capital Increase and “At the Market” Sales Offering of Jumia Technologies AG

April 12, 2021
Cross-border team advises on capital increase and subsequent “at the market” sales offering of leading pan-African e-commerce platform.

Latham & Watkins LLP has advised Citigroup Global Markets Inc. (Citigroup) on the capital increase with the exclusion of subscription rights and the subsequent “at the market” sales offering of Jumia Technologies AG (Jumia), the leading pan-African e-commerce platform listed on the New York Stock Exchange (NYSE). All 8,962,961 new ADSs offered by Jumia have been sold at an average price of $38.90 per ADS, generating aggregate gross process of $348.6 million.

Latham represented Citigroup with a team led by London partner Ryan Benedict and Frankfurt partners Oliver Seiler and David Rath, with Milan capital markets lawyer Irene Pistotnik, and Frankfurt associates Camilla Kehler-Weiß and Alexandre Maturana.