April 12, 2021
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.