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The Hut Group set to price London IPO at 5 pounds per share

Reuters
·1-min read

LONDON (Reuters) - E-commerce retailer The Hut Group is set to price its initial public offering at 5 pounds ($6.51) per share, making it the largest listing of a British company since 2013.

The 920 million pound float would value the firm at 4.5 billion pounds and see it list at least 20% of its stock.

The company will also sell some existing shares, taking the total offer to 1.87 billion pounds, or 35% of shares.

Blackrock, Henderson Global Investors and funds managed by Merian and the Qatar Investment Authority have agreed to buy 565 million pounds of the shares on offer.

Admission to the stock exchange is expected this month.

(Reporting by Clara Denina; editing by Jason Neely)