Farfetch Limited (NYSE:FTCH) shares are trading higher after reports emerged suggesting that the British luxury fashion site is in talks to secure emergency funding from Apollo Global Management, Inc. (NYSE:APO).

City insiders revealed on Wednesday that Apollo is just one of several firms engaged in discussions with the company, emphasizing that reaching a deal is not yet a certainty, the report read.

It was unclear whether the new capital would be provided as debt or equity, or a combination of the two, the report read.

The exact amount required remains uncertain, although a recent report by The Sunday Times indicated that the company might need to raise as much as $500 million, Sky News reported.

Price Action: FTCH shares are trading higher by 14.1% to $0.7149 on the last checked Wednesday.

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