Online beauty retailer The Hut Group (THG) could be the next company to float following reports that it has turned down a string of takeover offers that value it at almost £4bn.
THG is one of Britain’s fastest growing technology companies, having recently purchased spa brand ESPA and subscription service Glossybox. It also owns brands such as Mio Skincare, Grow Gorgeous and Lookfantastic.com.
On Monday, the group announced that it would add skincare products maker Acheson & Acheson to its portfolio as it seeks to bring production in-house.
THG did not disclose the value of the acquisition but Sky News reported on Sunday that the deal would be worth about £50mln to £100mln.
The news comes amid rumours that the company has rejected investment and takeover offers, fuelling speculation that it could eventually launch an initial public offering (IPO).
Aston Martin and Funding Circle IPOs
IPO activity has picked up pace recently with the likes of Aston Martin and the Funding Circle announcing plans to float on the London Stock Exchange (LSE).
Luxury car maker Aston Martin said last week that it would list in London later this year. It is expected to fetch a valuation of between £4bn to £5bn, which would put it at the top end of the FTSE 250.
The Funding Circle, which offers loans to small businesses in the UK, the US, Germany and the Netherlands, on Monday revealed plans to raise £300mln by listing in London. The peer-to-peer lender is expected to be valued at up to £2bn.
Monzo eyes London float
Online bank Monzo, whose bright orange debit cards and smartphone app have grown in popularity among millennials, is also eyeing an IPO. Tom Blomfield, founder and chief executive, has previously told the Daily Telegraph that it could float on the LSE in as little as two to seven years.
Monzo is understood to be planning to raise £20mln from customers through an equity crowdfunding round.
The company, which has raised £4mln from crowdfunding investors to date, is also seeking to raise about US$150mln of funding from investors.
That fundraising is expected to value the bank at up to US$1.5bn, giving it the so-called “unicorn” status alongside privately-held technology companies such as Deliveroo and Skyscanner valued at US$1bn or more.