The Hut Group appoints seven banks to aid potential IPO

The health and beauty platform, which owns brands such as Glossybox and Myprotein, has hired Citi, JP Morgan, Barclays, Goldman Sachs, HSBC, Jefferies and Numis to help with its IPO bid, as originally reported by Sky News.

The seven banks have been appointed with a view to a £1bn sale of new and existing shares in The Hut Group, which is set to take place as early as September.

The Hut Group has reportedly been in discussions with investors such as Baillie Gifford and TSG Consumer Partners about a deal that would see its value soar to over £4bn.

The retailer is yet to decide whether the fundraising will be conducted in the public or private markets. 

A THG spokesperson said: “Each year THG speaks to major global investors about future investment options to support global growth plans. This has always been done as a private company and this year is no different.”