British e-commerce retailer The Hut Group has revealed it's planning a €5bn (£4.5bn) stock market float on the London Stock Exchange. The company expects to raise at least c.€1bn (£920m) from the proposed initial public offering (IPO), which can become a potentially the first major IPO in London since the beginning of an ongoing COVID-19 crisis. THG targets overall revenue growth of 20-25% over the medium term.
“Our intention to float The Hut Group 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 and chief executive Matthew Moulding. “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.”
