The Hut Group plots London Stock Exchange float
The co-founder of online retailer and technology venture The Hut Group is in line for a £700 million share windfall.
According to a report by Sky News, Matthew Moulding could land one of the biggest payouts in British corporate history from an incentive scheme to be disclosed this week alongside plans for a £4.5 billion London Stock Exchange flotation.
The company has pencilled in 16th September for its shares to begin trading, city sources said.
UPDATE: The Hut Group has confirmed its intention to float on the London Stock Exchange.
Openpay partnership
Last week, we reported that buy now. pay later specialist Openpay had landed a three-year deal with The Hut Group.
Openpay will be integrated into the retailer’s Ingenuity platform in the UK and Australia.
Also of interest: Retail veteran Andy Harding joins Openpay
Openpay CEO, Michael Eidel, commented: “We are delighted to have secured this partnership with a landmark international retailer, which builds on the strong growth we have reported in the UK market over recent quarters.”
“In line with our stated strategy to drive both international and local growth, this deal also reinforces our strong position in the Australian retail vertical.”
Matthew Moulding, Founder and CEO, The Hut Group, said: “The agreement will add further payment capabilities to our end-to-end e-commerce platform Ingenuity, and deliver additional payment opportunities for the benefit of our consumers.”
The partnership is set to launch in the UK in Q2 FY21 and in Australia in Q2 FY22.
