Farfetch IPO Fetches $884 Million For Luxury Fashion Marketplace
Summary
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.The companys IPO prospectus says its mission "is to be the global technology platform for luxury fashion, connecting creators, curators and consumers.Farfetch provides an online platform for the global luxury fashion industry, designed to connect consumers and retailers.The Farfetch IPO follows the successful debuts of Eventbrite ( EB ) and Elanco Animal Health ( ELAN ) on Thursday.Among other IPOs Friday, biopharmaceutical company Y-mAbs Therapeutics ( YMAB ) saw its shares rocket 66% as it first began trading.