The Hut Group plans £4.5bn listing

The Hut Group has revealed plans to float on the London Stock Exchange for £4.5bn.

The group owns beauty and fitness brands including the Lookfantasic beauty and Myprotein.

The Hut Group has grown substantially since the start of the year, with revenues rising 35.8% to £676m. Sales in 2019 grew to £1.1bn from £916m during 2018.

It was founded in 2004 and now employs over 7,000 people.

Matthew Moulding, founder and chief executive, said: “Our intention to float The Hut Group on the London Stock Exchange reflects the achievements of the past but also our strong belief in the significant potential for THG in the future.”

“THG has enjoyed strong growth since being founded in 2004, employing more than 7,000 people and establishing a track record of consistent delivery for our customers,” he added.

The company will plan to raise £920m through the sale, which could lead to a large payout of up to £700m in shares for Moulding.

Shares are likely to be listed and begin trading in mid-September.

Citi and JPMorgan are leading the IPO.