Rocket Internet is planning to divest from African online shopping platform Jumia, people according to a report by Reuters. Rocket Internet, which supported the company in 2012, is seeking an exit from the consumer electronics and fashion retailer, in line with its strategy of selling or listing established internet firms.
A listing of shares, in a volume of under 200 million euros ($245.7 million), could take place in late 2018 or in 2019, either in Frankfurt or in London, one of the people said.
No information on Jumia’s valuation was immediately available and Rocket Internet declined to comment.
Last year, Rocket Internet floated online food groups Delivery Hero and HelloFresh, while the investor is currently also preparing a flotation of its online furniture retailer Home24.
Jumia has eCommerce operations in 14 countries throughout Africa, a continent with 1.2 billion consumers and 15 million small and medium-sized companies. It also features services such as an online hotel booking and a food delivery platform.
According to a presentation from Rocket Internet, Jumia saw its adjusted loss before interest, tax, depreciation and amortization widened to 80.7 million euros in the first nine months of 2017. Revenues edged up to 57.3 million euros.