Online retailer THG clicks on £4.5b London share sale | Malay Mail

The Hut Group, whose portfolio includes beauty website Lookfantastic and nutrition brand Myprotein, is seeking IPO that values the entire business at £4.5 billion, it said in a statement. — Reuters pic

The Hut Group, whose portfolio includes beauty website Lookfantastic and nutrition brand Myprotein, is seeking an Initial Public Offering that values the entire business at £4.5 billion , it said in a statement. The company, which is based in Manchester in northwestern England and was founded in 2004, has seen its popularity surge this year as the coronavirus lockdown sparks a global online shopping boom.

“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,” said founder Matthew Moulding, who is chief executive and chairman.Revenues soared by almost a quarter last year to stand at £1.1 billion, while earnings before interest, taxes, depreciation and amortisation stood at £111.3 million.

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