RTTNews | Nov 30, 2020 09:53AM EST

09:53 Monday, November 30, 2020 (RTTNews.com) - Jumia Technologies AG (JMIA) shares are sliding on Monday morning after the leading pan-African e-commerce platform said it entered into an 'at the market offering' sales agreement with Citigroup Global Markets Inc. for an aggregate 7,969,984 of Jumia's ADSs.

Jumia said it intends to use the net proceeds from this offering for general corporate purposes.

Currently, the shares are at $33.94, down 8.00 percent from the previous close of $36.89. The shares have been on a positive trend since November 17, though started moving down from Wednesday.

For the 52-week period, the shares have traded in a range of $2.15 to $40.90 on average volume of 12,663,988 shares.

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