• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Corporate deals

Nigeria’s IROKO to file for IPO on London Stock Exchange

Janet John by Janet John
February 10, 2021
in Corporate deals
Nigeria’s IROKO to Raise IPO
Share on FacebookShare on TwitterShare on Linkedin

Nigerian-based media company, IROKO plans to go public on the London Stock Exchange Alternative Investment Market in 2022.

Founded in 2011 by Jason Njoku and Bastian Gotter, Iroko is one of Africa’s first mainstream online movie streaming websites, and it has the world’s largest online catalog of Nollywood films.

According to TheAfricaReport, the media company will raise between $20 million and $30 million valuing the company at $80 million to $100 million. Discussions with brokers will start in the coming weeks. Njoku holds a stake of 18% in the debt-free company.

RelatedStories

DEAL: Kenyan startup, Bamba raises $3.2 million

DEAL: Kenyan startup, Bamba raises $3.2 million

May 18, 2022
Jason Njoku British-Nigerian businessman

After failing many times, Jason Njoku finally built a multimillion-dollar company

April 30, 2022

In 2020, Irokotv planned to increase its average revenue per user in Africa from $7-8 to $20-25. It seemed the company was set to achieve that until the pandemic came. Consumer spending in Nigeria and other African markets reduced and subscriptions dropped by 70% but international subscribers grew by 200% during the lockdown hitting a $25-30 ARPU range.

Jason Njoku told TechCrunch that, “The costs of pursuing Africa growth is what was really resized dramatically. We were so focused on defending Africa and basically ended up doing nothing. Zero marketing or anything to drive that.

“We pulled back to focus on where our economics actually makes sense. Our international business organically grew double-digit in 2020 and we expect it to continue this way for the foreseeable future.”

Why London Stock Exchange?

  • IROKO makes 80% of its revenue outside Africa and listing on a foreign exchange will help consolidate its efforts. According to Njoku, the Nigerian Stock Exchange or other local exchanges do not have a history of listing early-stage tech companies; therefore, the London Stock Exchange makes more sense in the short term.
  • The company is focusing more on international subscribers primarily in the U.S and the U.K where it has been able to execute a 150% price increase from $25 per year to $60 per year without any negative impact.
  • The company is seeking a market cap of about $100 million, which is small for the primary market. This is why it is choosing to list on the Alternative Investment Market (AIM) of the LSE. A sub-market of the LSE, the AIM is built specifically for small-cap companies.

IROKO secured around $30 million in total during its Series E funding in January 2016 and it plans to raise less or a similar amount when going public in 2022

The only company to have gone public from Nigeria is Jumia. Interswitch, a payment processing company valued at $1 billion is also planning to go public in the next 2 years.


Follow us for Breaking News and Market Intelligence.
Tags: Alternative Investment Market (AIM)Bastian GotteriROKOJason Njoku
Janet John

Janet John

Janet John is a graduate of Chemical Engineering from the University of Uyo. She specializes in technical writing where she creates easy to read documentation, articles to clearly and efficiently explain highly complex processes. When she is not writing, she works as a freelance front-end developer

Related Posts

DEAL: Kenyan startup, Bamba raises $3.2 million
Corporate deals

DEAL: Kenyan startup, Bamba raises $3.2 million

May 18, 2022
Jason Njoku British-Nigerian businessman
Profiles

After failing many times, Jason Njoku finally built a multimillion-dollar company

April 30, 2022
Flutterwave, Alipay
Tech News

Nigerian Tech founders react to damning allegations against Flutterwave

April 13, 2022
Nairametrics
Business News

Nigerians spend N3.73 billion in Cinemas in 2019 

January 18, 2020
Tech founders raise funds to combat SARS’ extortion, harassment
Business News

Tech founders raise funds to combat SARS’ extortion, harassment

September 30, 2019
Meet Mark Essien, the founder of Nigeria’s biggest hotel booking site
Business News

Meet Mark Essien, the founder of Nigeria’s biggest hotel booking site

August 24, 2019
Next Post
Reps to probe FG’s N3.4 billion failed solar power project

Daystar plans to raise $100m for West African solar projects

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • NUPRC unveils tech-driven oil export system to track Nigeria’s crude shipments
  • Nigeria signs MoU with Chinese firm to deploy direct-to-device satellite connectivity  
  • FG launches LUMINAH 2030 to empower over one million girls and women by 2030 

Follow us on social media:

Recent News

Nigeria’s gas flare commercialisation programme could unlock $2.5 billion investment – NUPRC 

NUPRC unveils tech-driven oil export system to track Nigeria’s crude shipments

June 19, 2025
Nigeria signs MoU with Chinese firm to deploy direct-to-device satellite connectivity  

Nigeria signs MoU with Chinese firm to deploy direct-to-device satellite connectivity  

June 19, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics