The Hut Group (THG) has reportedly chosen seven banks to work on a potential £4.5 billion stock market flotation.
The online consumer goods retailer, which owns online stores such as Glossybox and Myprotein, has hired Citi, JP Morgan, Barclays, Goldman Sachs, HSBC, Jefferies and Numis to help with its IPO bid.
The seven banks have been appointed with a view to a £1 billion sale of new and existing shares in the retailer, Sky News reported.
THG has been in several talks with investors such as Baillie Gifford and TSG Consumer Partners about a deal that would see its value reach £4 billion.
The company is still deciding on whether the fundraising will be conducted in the public or private markets.
The institutions with which THG has been in talks with are said to be open to buying shares either privately or through an IPO.
At least 15 per cent of the company’s shares are expected to be placed with new investors in the next few months.
THG said every year it holds discussions with major global investors about future investment options to “support global growth plans” and this has always been done as a private company.
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