Cross-border team represents placement agents on the offering by a leading e-commerce platform in
Africa.Latham & Watkins has advised the placement agents, RBC Capital Markets, LLC, and Berenberg Capital Markets LLC, on the at-the-market (ATM) offering by Jumia Technologies AG (NYSE: JMIA) (Jumia), a leading e-commerce platform in Africa, of 20,227,736 ADSs.
The ATM generated aggregate gross proceeds before commissions and offering expenses of US$99.6 million. Jumia intends to use the proceeds for general corporate purposes, as well as to support its continued efforts around customer acquisition, expand its supplier base, scale its logistics network, and improve marketing and vendor technology.
The Latham team was led by London corporate partner Ryan Benedict, with capital markets lawyer Irene Pistotnik and associates Sarah Youssefi and Yao Lin. Advice on German matters was provided by Hamburg partner Dirk Kocher and Frankfurt partner Jan Penselin, with associate Tobias Mueller; on tax matters by New York partner Jocelyn Noll; and on US financial regulatory matters by Washington, D.C. partner Marlon Paz.
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