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The Hut Group confirms float intentions

Stock market flotation values the company at around £4.5 billion.

Online retailer The Hut Group has confirmed its intention to launch a £4.5 billion stock market flotation.

The group – which owns beauty brands such as ESPA, Illamasqua and Glossy Box, plus Myprotein among others – is planning to raise £920m through the sale, with an initial date of September 16 set for shares to begin trading, reporting Retail Sector.

The retailer will use the listing to help fund rapid growth of the business.

“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,” commented Matthew Moulding, founder, ceo and chairman of THG. “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.”

Speculation of a float picked up pace in June when it emerged that the company had been holding meetings with a series of high profile private investors.

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