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Funds News

The Hut Group prepares to trade after sealing bumper $7 bln London IPO

LONDON, Sept 16 (Reuters) - E-commerce firm The Hut Group is preparing for its first day of trading on Wednesday after batting away corporate governance concerns to seal the first major British initial public offering since the start of the COVID-19 crisis.

The company, which helps sell retail brands including Lookfantastic and skincare group ESPA, sold 376 million shares at 500 pence each, valuing the company at 5.4 billion pounds ($6.96 billion), in the biggest London debut since 2013.

JP Morgan, Citi, Barclays and Goldman Sachs were global coordinators while HSBC, Jefferies and Numis acted as joint bookrunners. ($1 = 0.7754 pounds) (Reporting By Sinead Cruise, editing by Karin Strohecker)

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