Farfetch was definitely one of the favorites among the IPO class of 2018 as this London-based luxurious online market had an estimated value set at 6 billion dollars for their public offer right before the company reached the market.
The company’s shares were approved for a listing on Nasdaq exchange under the thicker (FTCH), starting the first trading session at the value of 27$ while the planned opening price was previously set at the value between 17$ and 19$ per share.
The company managed to raise 885 million dollars with the initial trading session, agreeing to issue 44.2 million A class shares with the IPO going live in September 2018.
How Well is Farfetch (FTCH) Doing in 2019 After Its Debut in September 2018?
The market evaluation of Farfetch shares stood at 6.5 billion dollars at the time of the first IPO sale when the company topped 885 million dollars, reporting 385 million dollars in revenue for 2017, which helped the company get higher estimates that JD and Amazon, also gaining more momentum as an IPO when compared to other retailers in the market.
The current market capitalization of the company stands at 7.82 billion dollars, while bankers claim that retailers such as Farfetch represent highly profitable environments as unlike traditional retailers, these marketplaces can avoid dealing with issues that can appear with getting stuck with unwanted products.
Moreover, the highest price reached during the initial opening session was set a little above 30$, while the price of FTCH shares jumped by 43% already at the very beginning of the first trade.
Presently, FTCH is following an upward trend at the price of 26.75$ per share with the last closing session, while the price plummeted from 29$ as recorded at the beginning of March.
Farfetch is said to be shipping over 700 brands to over 190 countries, representing a profitable company despite previously reported losses.
