Africa-focused e-commerce retailer Jumia has raised USD196 million in its initial public offering on the New York Stock Exchange. Jumia sold 13.5 million American Depositary Shares (ADS) for USD14.50 per ADS, valuing the company at USD1.1 billion. The company is backed by German venture investor Rocket Internet, as well as insurance company AXA, investment bank Goldman Sachs, and corporate investors MTN, Orange, Millicom International Cellular, and Pernod Ricard.