3rd Sep 2020 11:06
Hut Group Ltd - consumer goods retailer - Confirms intention to list on the London Stock Exchange. Confirms hopes of raising about GBP920 million, giving it a market capitalisation of GBP4.5 billion on admission.
Hut says funds and accounts managed by BlackRock Inc, Henderson Global Investors Ltd, funds managed by Jupiter Fund Management PLC-owned Merian Global Investors Ltd, and Qatar Investment Authority, have each entered into "cornerstone agreements" with the company to subscribe for, in aggregate, GBP565 million of shares. This consists of GBP300 million from BlackRock, GBP100 million from Janus Henderson, GBP90 million from Merian and GBP75 million from QIA.
Manchester-based Hut - which has operations within its Beauty, Nutrition and Ingenuity arms - owns brands such as online cosmetics company Lookfantastic and wellness unit Myprotein. Its Ingenuity e-commerce technology platform serves blue-chip customers such as Nestle SA, Walgreens Boots Alliance Inc and Procter & Gamble Co.
By Paul McGowan; [email protected]
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