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Stockreport

Farfetch IPO Fetches $884 Million For Luxury Fashion Marketplace [Investor's Business Daily]

JP Morgan Chase & Co. (JPM)  More Company Research Source: Investors Business Daily
Last jp morgan chase & co. earnings: 10/12 06:46 am Check Earnings Report
PDF Related news Shares of London-based fashion clearinghouse Farfetch ( FTCH ) jumped 35% Friday morning as it began trading on the New York Stock Exchange with an initial public offering that drew considerable interest from institutional investors. X Farfetch stock opened at 27 for the 35% gain as trading began. Late Thursday, the Farfetch IPO raised $884 million by pricing 44.2 million shares at 20. Pricing hit the high end of an upwardly revised range. Its 44.2 million shares jumped from initial plans to offer 37.5 million shares. Research and advisory firm IPO Boutique said channel checks showed the Farfetch IPO was "many multiple-times oversubscribed." That suggests strong demand for shares. The company's IPO prospectus says its mission "is to be the global technology platform for luxury fashion, connecting creators, curators and consumers." The lead underwriters were Goldman Sachs and JPMorgan. Farfetch provides an online platform for the global luxury fashion industry, [Read more]

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