The Hut Group Seeks as Much as $2.4 Billion in London IPO
- Shares were gone within 40 minutes of IPO books opening
- CEO Matthew Moulding will be a billionaire after IPO is done
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British e-commerce operator The Hut Group Ltd. said its initial public offering could raise as much as 1.87 billion pounds ($2.4 billion), which would make it Europe’s second-largest listing of the year.
Besides the 920 million pounds of new stock that the company already announced it will sell, investors are offering another 950 million pounds of existing shares, The Hut Group said in a statement Thursday. In all, about 374 million shares, or 35% of the company, are being marketed in the IPO at 5 pounds each.