The African Amazon climbs nearly 60% on its first day of trading

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Jumia co-CEO Sacha Poignonnec, left, applauds when Jumia Nigeria CEO Juliet Anammah in the center rings the ceremonial bell when the company's shares start trading on the floor of the Stock Exchange. New York, Friday, April 12, 2019.

Richard Drew | AP

Jumia co-CEO Sacha Poignonnec, left, applauds when Jumia Nigeria CEO Juliet Anammah in the center rings the ceremonial bell when the company's shares start trading on the floor of the Stock Exchange. New York, Friday, April 12, 2019.

Jumia Technologies, the largest e-commerce operator in Africa, jumped more than 60% on its first trading day on the New York Stock Exchange on Friday. The stock is trading around $ 22 a share, above the $ 14.50 opening price. Its market capitalization is just over a billion dollars.

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