Farfetch, a global online marketplace for luxury fashion brands and retailers, announced terms for its IPO on Wednesday.
The London, United Kingdom-based company plans to raise $600 million by offering 37.5 million shares (20% secondary) at a price range of $15 to $17. At the midpoint of the proposed range, Farfetch would command a fully diluted market value of $4.9 billion.
Farfetch was founded in 2008 and booked $481 million in sales for the 12 months ended June 30, 2018. It plans to list on the NYSE under the symbol FTCH. Goldman Sachs, J.P. Morgan, Allen & Company, UBS Investment Bank, Credit Suisse, Deutsche Bank and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of September 17, 2018.
