E-commerce company The Hut Group made a stellar stock market debut in London on Wednesday after raising £1.88bn via an initial public offering. Shares in the company, also known as THG, were offered at 500p each, giving it an initial market capitalisation of £5.4bn. In early trading, they had surged by more than 30% to 653.6p. 'I am delighted that THG has received such strong support from some of the world's largest investors,' founder, chief executive and chairman Matthew Moulding said. 'The results of the offer are a clear validation of our business model, significant growth prospects, and recognition of the hard work and talent of all our colleagues.'
Sign up to our
Subscribe to the latest investing news by entering your email address below
You can opt out at any time.
For five days a week you will get
- The latest company news
- Insight into investment trends
- Round-up of director's buys and sells
- Articles from Shares magazine
Plus more useful investment content and occasional promotional offers.
UK 350 Risers and Fallers
Tweets not available.