Germany-based online retail business startup Rocket Internet is preparing its Nigerian online shopping platform Jumia for a possible New York listing in the first quarter of 2019.

The deal could value the firm at about $1 billion. Shares worth up to $250 million may be sold.

U.S.-based financial services company Citi, Morgan Stanley and Berenberg are coordinating the initial public offering (IPO).

Rocket Internet is seeking a partial exit from the consumer electronics and fashion retailer, in line with its strategy of selling or listing established internet firms.