- Angela Gonzalez-Rodriguez |
The London-based luxury online fashion retailer will become a publicly traded company this Friday. Farfetch’s shares are scheduled to price Thursday and begin trading Friday on the New York Stock Exchange under the ticker symbol FTCH.
Farfetch expects to raise over 446.5 million dollars with its IPO
As revealed in an updated regulatory filing, Farfetch will offer 37.5 million shares expecting to raise approximately 446.5 million dollars in the company’s initial public offering (IPO). The price range per share comes in at 15-17 dollars apiece.
Underwriters include Goldman Sachs, J.P. Morgan, Allen & Company, UBS Investment Bank, Credit Suisse, Deutsche Bank, Wells Fargo Securities, Cowen, and BNP Paribas.
As explained by the company in a corporate communication issued earlier this month, Farfetch intends to use the net proceeds from this offering and a concurrent private placement for working capital, to fund growth and other general corporate purposes, including possible acquisitions.
This is a highly anticipated float, the first of this magnitude for the apparel industry in years. Its big focus on technology, as well as the fact Farfetch serves luxury, an area where Amazon.com (AMZN) has yet to make major inroads, are some of the main about this IPO.Image: Farfetch Official Web
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