Farfetch jumps 35% in its trading debut

pulse

September 21, 2018 2:02 PM

Farfetch priced its initial public offering at $20 a share, above the $17-$19 range that was expected. The UK-based online luxury-goods retailer raised $885 million in total, well above its previous target.

Farfetch priced shares at $20 apiece and opened for trading at $27.06 — up 35%.
The UK-based online luxury-goods retailer raised $885 million.
Chinese e-commerce giant JD.com acquired a 13.94% stake of Farfetch in 2017, and agreed to buy more Class A ordinary shares after Farfetch's IPO to maintain its ownership stake.
Fafetch has rapidly grown its customer base, but

Online luxury-goods retailer Farfetch went public Friday through an initial public offering at the New York Stock Exchange. Shares opened for trading at $27.06 apiece, 35.3% above the $20 where they priced. The company raised $885 million through its IPO

The for Farfetch's IPO include Goldman Sachs, UBS, Allen & Co., and JP Morgan.

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