German tech investor Rocket Internet said on Thursday it had sold its stake in African ecommerce company Jumia, which has seen its shares steadily ...
BERLIN: German tech investor Rocket Internet said on Thursday it had sold its stake in African e-commerce company Jumia, which has seen its shares steadily fall since they listed last April on Wall Street.
Jumia shares soared when the company became the first African tech stock to list on Wall Street on Apr 12 but tumbled a month later after Citron Research, run by short-seller Andrew Left, questioned some of its sales figures. Berlin-based Rocket Internet has helped set up a raft of start-ups, which it has later listed, eventually selling down most of its stakes.That has prompted speculation that the company might seek to go private, but Curtze declined comment on that issue on Thursday.
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