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African e-commerce company Jumia is selling 20 million American depositary shares over the next couple of weeks .
The at-the-market transaction is to take advantage of strong results despite a volatile market.
The funds raised will be used to expand its supply chain network, particularly by enhancing logistics to reach smaller cities and broadening our overall network.
“We’ve emphasized this KPI more over the past quarters due to the currency volatility and the associated costs it creates. Reporting the full picture is essential for companies exposed to such volatility. For instance, MercadoLibre in Latin America also prefers to look at the loss before income tax rather than EBITDA,” said the CEO. “During their recent results announcement, they highlighted how currency volatility in Argentina impacts finance costs. Therefore, focusing on loss before income tax offers a more comprehensive view when operating across multiple markets with currency fluctuations.”.
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