Deals
Online Luxe Goods Hub Farfetch Climbs After $855 Million IPO
- Shares rise as investors bet on $8,287 coats, $980 sneakers
- CEO Neves seeks to further customize site for regional tastes
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Luxury clothing marketplace Farfetch Ltd. caught the eye of investors in its public market debut.
The London-based company’s shares climbed as much as 53 percent on their first day of trading Friday. Farfetch and an existing stockholder sold 44.2 million shares Thursday at $20 each, topping the marketed range of $17 to $19, to raise $885 million. The stock closed up 42 percent to $28.45, giving the company a market value of $8.2 billion.