Farfetch’s $5.8 Billion Initial Public Offering

Orrick advised JD.com and Condé Nast, as shareholders, and Vitruvian Partners, as a selling shareholder, in Farfetch’s $5.8 billion initial public offering on the New York Stock Exchange.

Farfetch Limited, a leading technology platform for the global luxury fashion industry, priced its initial public offering of 44,243,749 Class A ordinary shares, 33,609,891 of which are being offered by Farfetch and 10,633,858 of which are being offered by certain selling shareholders, at a public offering price of $20.00 per share. The underwriters of the offering will also have a 30-day option to purchase up to an additional 6,636,562 Class A ordinary shares from Farfetch at the initial public offering price. The shares are expected to begin trading on the New York Stock Exchange on September 21, 2018 under the ticker symbol “FTCH.”

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Allen & Company LLC and UBS Securities LLC are acting as joint lead book-running managers for the proposed offering. Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC are acting as joint bookrunners for the proposed offering. Cowen and Company, LLC and BNP Paribas Securities Corp. are acting as co-managers for the offering.

The Orrick team included corporate partners Ylan Steiner (Picture), Shawn Atkinson and Nell Scott in London, Jeffrey Sun in Shanghai and Christopher Austin in New York, and tax partners Ed Denny in London and John Narducci in New York, together with associates Janine Suttie, Siddharth Fresa and Alec Smith in London.

 

Involved fees earner: Ylan Steiner – Orrick; Shawn Atkinson – Orrick; Nell Scott – Orrick; Jie Sun – Orrick; Christopher Austin – Orrick; Janine Suttie – Orrick; Siddharth Fresa – Orrick; Alexander Smith – Orrick; Ed Denny – Orrick; John Narducci – Orrick;

Law Firms: Orrick;

Clients: JD.com Inc.; Vitruvian Partners; Condé Nast;

 

Author: Michael Patrini