E-commerce firm The Hut Group has confirmed its intention to float on the London Stock Exchange, in potentially the biggest listing of a British company since 2013 and the first major London listing since the Covid-19 crisis.  

The £920m float would value the firm at £4.5 billion and see it list at least 20% of its stock. The company will also sell some existing shares. 

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

Admission to the stock exchange is expected later this month. 

THG operates retail brands including Lookfantastic and skincare group ESPA and has said it has benefited from an online shopping boom since government lockdowns were introduced to control the spread of Covid-19. 

The Hut IPO is expected to be the biggest IPO of a British company since the government floated the shares of its Royal Mail postal service in 2013. 

International companies including Chine Pacific Insurance and Russian resource company EN+ raised potentially more with their global depositary receipts.