SCHEDULE 13D/A: Pernod Ricard's Stake in Jumia Technologies Diluted to 6.3% Following Share Issuance

Pernod Ricard S.A. and its subsidiary Pernod Ricard Deutschland GmbH have reported a decrease in their beneficial ownership of Jumia Technologies AG to 6.3% due to an increase in Jumia's outstanding shares.

Summary

• Pernod Ricard S.A. and Pernod Ricard Deutschland GmbH filed an Amendment No. 2 to their Schedule 13D regarding their beneficial ownership in Jumia Technologies AG.
• The amendment discloses a decrease in their percentage beneficial ownership in Jumia Technologies AG to 6.3%.
• This decrease is a result of an increase in the total outstanding Ordinary Shares of Jumia Technologies AG.
• As of the filing date, the Reporting Persons beneficially own 15,393,839 Ordinary Shares of Jumia, which includes 12,851,169 Ordinary Shares and 2,542,670 Ordinary Shares underlying American Depositary Shares (ADSs).
• The 6.3% ownership is calculated based on 244,925,650 Ordinary Shares of Jumia Technologies AG outstanding as of December 31, 2024, as reported in Jumia's Form 20-F filed on March 7, 2025.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of a change in beneficial ownership percentage due to share dilution, which is neutral in tone but reflects a decrease in the reporting entity's relative stake.

Negatives

• The percentage beneficial ownership of Pernod Ricard in Jumia Technologies AG has decreased from its previous level due to dilution from an increase in Jumia's outstanding shares.

Risks

• Dilution of existing shareholder stakes due to the issuance of new shares by Jumia Technologies AG.

Industry Context

This filing reflects a change in a significant investor's stake in Jumia Technologies AG, an e-commerce platform operating in Africa. While the filing itself doesn't provide broader industry trends, the dilution of Pernod Ricard's stake suggests Jumia may have undertaken a capital raise or issued new shares, a common occurrence for growth-stage technology companies, particularly those operating in emerging markets like Africa, to fund operations or expansion.

Stakeholder Impact

• **Pernod Ricard (Reporting Persons)**: Their relative ownership stake in Jumia Technologies AG has been diluted, meaning their influence and share of future profits from Jumia are proportionally reduced.
• **Jumia Technologies AG (Issuer)**: The increase in outstanding shares suggests a recent capital infusion or share issuance, which could provide funding for operations or growth, but also dilutes existing shareholders.
• **Other Shareholders of Jumia Technologies AG**: Their stakes would also be proportionally diluted by the increase in outstanding shares.

Key Dates

Keywords

Jumia Technologies AG, JMIA, Pernod Ricard S.A., Pernod Ricard Deutschland GmbH, Schedule 13D, Beneficial Ownership, Ordinary Shares, ADSs, Share Dilution, SEC Filing, Investment Stake