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PRIVACY
Retail & Consumer

The Hut Group raises 拢1.88bn in huge 海角视频 flotation as firm begins trading on London Stock Exchange

The firm is now valued at £5.4bn following the process

Matthew Moulding, CEO of The Hut Group(Image: Publicity Picture)

Manchester-based online giant The Hut Group (THG) has begun trading on the London Stock Exchange after it raised £1.88bn in a successful flotation.

The company said the now-completed bookbuilding process has been a "clear validation" of its growth prospects, now holding a market capitalisation of £5.4bn.

The float was the largest by a 海角视频 tech company since 2015, comprising 376,273,998 shares in total.

A statement to the markets on Wednesday morning said the North West group, whose brands include Myprotein.com and Lookfantastic.com, will start trading on the London Stock Exchange from 8am. Shares were expected to be £5 each.

Matthew Moulding, founder, CEO and chairman of THG said: "I am delighted that THG has received such strong support from some of the world's largest investors, which means we have been able to achieve a highly successful offer of shares in the company.

"The results of the offer are a clear validation of our business model, significant growth prospects, and recognition of the hard work and talent of all our colleagues.

"Our flotation is the start of an exciting new phase in THG's development and we look forward to sharing that journey with our new shareholders."