Africa-focused e-commerce company Jumia floated in the middle of its range, with more than half the shares being bought by existing corporate investors.

Jumia, the Germany-headquartered, Africa-focused online marketplace backed by several corporate investors, went public on Friday in a $196m initial public offering in the US. The company issued 13.5 million American depositary shares on the New York Stock Exchange priced at $14.50 each, in the middle of the offering’s $13 to $16 range, valuing it at…

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