Farfetch Ltd (NYSE:FTCH) made its public debut Friday on the New York Stock Exchange.
The London-based e-commerce retailer operates a fashion platform, offering luxury brands from well-established brands like Chanel and Gucci as well as on-the-rise designers like Alessandra Rich and Wandler.
The company priced its 44.2 million shares above guidance at US$20 each, raising a total of US$885mln.
Its market valuation is estimated to be around US$6.2bn.
The retailer’s shares began trading 35% higher at US$27, surging nearly 50% to US$29.63 in afternoon trading.
Frederic Court, founder of venture fund Felix Capital and one of Farfetch's first investors, congratulated the company via Twitter.
This is the day! So proud of what @Farfetch_jose & team have accomplished at @farfetch. This is an extraordinary achievement, and an immense privilege for me to go from 1st investor at Series A 9y ago to a point where the public can buy shares, on the #NYSE. Surreal. #VC pic.twitter.com/IXOwFB1eQI— Frederic Court ???? (@fcourt) September 21, 2018
Farfetch’s initial plan was to offer 37.5mln shares priced between US$15 and US$17, but later upped its price range to fall between US$17 and US$19 per share.
The platform had a total of 935,772 active user as of December 31, according to a regulatory filing.
--Updated to include recent share price