The Hut Group (THG) have confirmed that they are planning a £4.5bn stock market listing, which will be London’s first major flotation since the pandemic and the largest since 2013.
The online retailer said they are looking to raise around £920m by offering 20% of their stock, which values THG at £4.5bn.
The MyProtein, Lookfantastic and ESPA owner said, BlackRock, Henderson Global Investors and funds managed by Merian Global Investors and the Qatar Investment Authority have agreed to purchase £565m of shares.
Matthew Moulding, founder, chief executive officer and chairman of THG, previously said, “Our intention to float THG on the London Stock Exchange reflects the achievements of the past but also our strong belief in the significant potential for THG in the future.
“THG has enjoyed strong growth since being founded in 2004, employing more than 7,000 people and establishing a track record of consistent delivery for our customers.
“The brands we own today give us leading strategic positions in prestige beauty and nutrition, powered by Ingenuity, our differentiated proprietary direct-to-consumer e-commerce solution.”