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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Jupiter Fund Management plc    JUP   GB00B53P2009

JUPITER FUND MANAGEMENT PLC

(JUP)
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The Hut Group launches $1.22 billion London float

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09/03/2020 | 03:38am EDT

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

The 920 million pound ($1.22 billion) 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.

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 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 Co. and Russian resource company EN+ ENPLI.RTS raised potentially more with their global depositary receipts.

CitiGroup, JP Morgan, Barclays and Goldman Sachs are acting as joint global co-ordinators, while HSBC, Jefferies and Numis are joint bookrunners. NM Rothschild & Sons is sole financial adviser to the company.

(Reporting by Iain Withers, editing by Sinead Cruise)


Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC -3.49% 103.8 Delayed Quote.-40.66%
BLACKROCK, INC. -2.80% 600.71 Delayed Quote.18.82%
CITIGROUP INC. -2.42% 41.13 Delayed Quote.-48.85%
HSBC HOLDINGS PLC -4.18% 319 Delayed Quote.-44.23%
JUPITER FUND MANAGEMENT PLC 0.26% 225.8 Delayed Quote.-44.53%
LONDON STOCK EXCHANGE PLC -3.44% 8328 Delayed Quote.10.27%
ROTHSCHILD & CO -5.00% 21.9 Real-time Quote.-10.16%
ROYAL MAIL PLC -2.80% 235.6 Delayed Quote.5.74%
THE GOLDMAN SACHS GROUP, INC. -2.66% 189.77 Delayed Quote.-17.16%
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Financials
Sales 2020 378 M 491 M 491 M
Net income 2020 81,9 M 106 M 106 M
Net cash 2020 157 M 203 M 203 M
P/E ratio 2020 14,8x
Yield 2020 7,40%
Capitalization 1 230 M 1 608 M 1 598 M
EV / Sales 2020 2,84x
EV / Sales 2021 2,48x
Nbr of Employees 522
Free-Float 90,7%
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Mean consensus HOLD
Number of Analysts 16
Average target price 258,75 GBX
Last Close Price 227,20 GBX
Spread / Highest target 53,2%
Spread / Average Target 13,9%
Spread / Lowest Target -12,0%
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Managers
NameTitle
Andrew James Formica Chief Executive Officer & Director
Nichola Pease Non-Executive Chairman
Wayne Mepham Chief Financial Officer & Director
Edward Henry Bonham Carter Vice Chairman
Jonathon Roderick Alan Bond Senior Independent Director
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