U.K based e-commerce company The Hut Group is eyeing a London Stock Exchange Listing. The company confirmed the development further adding that it’s looking forward to raising 920 million pound ($1.22 billion) from the initial public offering.
This listing will go down as the largest by a Britain company in the London Stock Exchange since 2013. Following the listing, The Hut will be having a market valuation of 4.5 billion pounds. The company will float at least 20% of its outstanding shares.
Among the institutional investors which will be investing in the stock include Henderson Global Investors and Blackrock. Additionally, Qatar Investment Authority has also agreed to buy shares worth 565 million pounds once they have been floated.
The Hut has picked NM Rothschild & Sons as its only financial advisor, whereas Numis, Jefferies and HSBC will jointly serve as bookrunners, lastly CitiGroup, JP Morgan, Barclays and Goldman Sachs will jointly serve as global co-ordinators.
The Hut did not disclose the specific day it will go public however it is anticipated that it will happen before the month comes to an end.