- E-commerce company The Hut Group made a stellar stock market debut in London on Wednesday after raising £1.88bn via an initial public offering.

Shares in the company, also known as THG, were offered at 500p each, giving it an initial market capitalisation of £5.4bn.

In early trading, they had surged by more than 30% to 653.6p.

'I am delighted that THG has received such strong support from some of the world's largest investors,' founder, chief executive and chairman Matthew Moulding said.

'The results of the offer are a clear validation of our business model, significant growth prospects, and recognition of the hard work and talent of all our colleagues.'

Story provided by