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AXIAN Telecom takes 8% stake in Jumia days after Baillie Gifford fully exits
AXIAN Telecom acquires an 8% minority stake in Jumia, reshaping its investor landscape. Baillie Gifford, Jumia's largest institutional investor, completed its exit just days before AXIAN's investment.
Jumia’s largest investor exits with likely multimillion-dollar loss
Baillie Gifford sold its entire 18 million-share stake in Jumia, reducing ownership from 7.4% to 0%. Jumia's share price dropped from over $26 in 2019 to around $2.5 at the time of Baillie Gifford's sale.
