Citi Group, in its analysis of the
allegation, said claims by Citron were manipulated and recommended that Jumia
make more disclosure of its performance.
The investment bank said it had become
necessary to address the issues in view of the 50 per cent fall in the share
price of Jumia at the New York Stock exchange and investors’ concerns over the
validity of the allegations.
Citron had accused the e-commerce
company of falsifying figures in its filings at the stock exchange. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html Citron
research analysts led by its Founder, Andrew
Left, had claimed a document called ‘Confidential Investor Presentation’
published by Jumia in October 2018, which was used for marking the company
before the IPO, contained key financial metrics that were different from the
Jumia filing with the NYSE.
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