Jumia Technologies AG (JMIA) shares skyrocketed 17.16% during Tuesday's intraday trading session, following reports of potential takeover interest from Axian Telecom. The sudden surge in stock price prompted a trading halt by the New York Stock Exchange, as investors rushed to react to the news.
According to sources familiar with the matter, as reported by Bloomberg, Axian Telecom has expressed interest in acquiring Jumia Technologies. This development has sparked excitement among investors, given the potential for a premium buyout offer and the strategic implications for Jumia's e-commerce and digital services operations across Africa.
The trading halt, implemented at $4.71 per share, suggests that exchange officials may be seeking additional information about the reported takeover interest. Such halts are typically imposed when there is pending news that could significantly impact a stock's price. As trading resumes, market participants will be closely watching for any official statements from Jumia or Axian regarding the potential acquisition talks.
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