BNY Mellon announced that it has been appointed by Jumia Technologies AG (Jumia), the leading pan-African e-commerce platform, for its American Depositary Receipt (ADR) program. Jumia is active in six regions in Africa, which consist of 14 countries that together accounted for 72% of Africa's GDP of €2 trillion and 74% of African consumer expenditure of €1.4 trillion in 2018. Each Jumia ADR represents two ordinary shares and trades on the New York Stock Exchange under symbol "JMIA."
"We selected BNY Mellon as our depositary bank, as their commitment and experience in the African market will enhance Jumia's visibility," said Sacha Poignonnec, Co-Founder and Co-CEO of Jumia. "We look forward to our new relationship and growing the DR program together."
"We were very pleased to work with Jumia on their IPO and are excited to welcome them to BNY Mellon's depositary receipts group," said Chris Kearns, CEO of BNY Mellon's Depositary Receipts business. "BNY Mellon has a long history working with African issuers and is committed to further enhancing their visibility and access to the U.S. capital markets."
BNY Mellon acts as depositary for 809 sponsored American and global depositary receipt programs as of Dec. 31, 2018. Acting in partnership with leading companies from over 55 countries, BNY Mellon is committed to helping securities issuers access the world's rapidly evolving financial markets and delivers a comprehensive suite of depositary receipt services. Learn more at www.bnymellon.com/dr.
Notes to Editors:
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of December 31, 2018, BNY Mellon had $33.1 trillion in assets under custody and/or administration, and $1.7 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.