Hut Group selects banks to work on IPO

Latest News

Hut Group selects banks to work on IPO

By Peter Walker

30/07/20

The Hut Group has chosen seven banks to work on a potential £4.5 billion Initial Public Offering (IPO).

Sky News reported that the online consumer goods group has hired Citigroup, JP Morgan, Barclays, Goldman Sachs, HSBC, Jefferies and Numis to assist with the stock exchange listing.

This would be formed of a £1 billion sale of new and existing shares, with investors like Baillie Gifford and TSG Consumer Partners already in talks about fundraising either through public or private markets.

At least 15 per cent of the company’s shares are expected to be placed with new investors in the next few months.

The Hut Group - known for its beauty and wellness brands - stated that it holds annual discussions with investors about future investment options, to “support global growth plans” as a private company.

In 2019, it raised €1 billion to help fund expansion plans, with significant investment from BlackRock and Sofina.

Supplying demand: how fashion retailers can meet the needs of customers and still be sustainable

The fashion industry is no stranger to breaking the mould and setting trends, but the pursuit of style can come at a huge cost to the environment.

New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.