The Hut Group targets £4.5bn valuation in stock market float
The Hut Group has revealed its intention to float on the London Stock Exchange, with a target valuation of £4.5bn.
The health and beauty group, which owns brands such as Glossybox and Myprotein, said the IPO would help the business capitalise on its “significant potential”.
The Hut Group recorded “strong growth” during the six months to June 30, with sales surging 35.8% year on year to £676m, despite the impact of the coronavirus pandemic. It attributed the growth to “the non-discretionary nature” of its nutrition and beauty categories.
That sales growth came off the back of a strong 2019, when The Hut Group grew revenues 24.5% to £1.1bn.
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