The Hut Group plans to raise at least 920 mln stg in London IPO

Credit: REUTERS/POOL New

E-commerce group The Hut Group Ltd said on Thursday it was considering an initial public offering on the London Stock Exchange, targeting proceeds of at least 920 million pounds ($1.21 billion), as it looks to tap in pandemic-accelerated investor appetite for the sector.

Aug 27 (Reuters) - E-commerce group The Hut Group Ltd said on Thursday it was considering an initial public offering on the London Stock Exchange, targeting proceeds of at least 920 million pounds ($1.21 billion), as it looks to tap in pandemic-accelerated investor appetite for the sector.

If listed, the company said it plans to have a free float of at least 20% of its issued share capital and a fixed offer price that would give it a pre-money equity value of 4.5 billion pounds, the company said.

($1 = 0.7575 pounds)

(Reporting by Muvija M in Bengaluru Editing by Rachel Armstrong)

((muvija.m@tr.com; within UK: +44 20 7542 1810, outside UK: +91 80 6182 2698; Mobile: +91 90 4702 2289;))

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