UK e-commerce retailer The Hut Group (THG) has announced plans to float on the London Stock Exchange (LSE).

The company said that if it proceeds with an initial public offering (IPO), the offer would include its newly issued shares and an offer of existing shares to be sold by existing shareholders.

The Hut Group plans to have a free float of at least 20% of the company’s issued share capital and a fixed offer price, equating to £4.5bn pre-money equity value.

THG directors expect the offer would further support THG’s growth plans. It will enhance its brand awareness and provide a base of long-term shareholders.

Citigroup, JP Morgan Securities, Barclays Bank and Goldman Sachs have been appointed as joint global coordinators, while HSBC Bank, Jefferies International and Numis Securities will act as joint book-runners.

Recently, e-commerce services division THG Ingenuity announced a ten-year partnership with home and garden projects retailer Homebase.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

THG founder and chief executive officer Matthew Moulding said: “We are incredibly excited to be working with one of the UK’s biggest players in the home and garden retail sector and there is huge potential for us to grow Homebase’s D2C capabilities with our proven infrastructure and services.

“This partnership is testament to the strength and reputation of THG Ingenuity to deliver a world-leading e-commerce solution that can power businesses of all sizes in the UK and globally.”

In June, UK online supermarket and technology company Ocado Group revealed plans to raise £1bn as it plans to accelerate the growth of the online grocery market caused by the Covid-19 pandemic crisis.