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The Hut Group to reach £1bn valuation with new fundraising

The Hut Group is about to raise new funds that would hike the etailer’s valuation to nearly £1bn, according to reports.

The business is said to be working with investment bankers at Barclays to sell between 50 and 100 million pounds of new shares.

According to Sky News, The Hut Group will use the money to fund potential acquisitions, while a small proportion could be used to buy out some minority shareholders.

At that valuation, the company would become one of the UK’s most valuable digital businesses.

The Hut Group’s chief executive Matt Moulding has a 21.1% stake in the business, which would be worth more than £180m if the deal goes ahead.

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