KKR Gains 300% Profit from the Largest IPO of COVID-19

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The Hut Group Exits KKR

From the largest IPO of COVID-19, KKR & Co. Inc. (NYSE: KKR) has made a profit of more than 300% by selling its minority stake in The Hut Group. The British e-commerce company headquartered in Manchester, England. They finalized the exit during the company’s initial public offering on the London Stock Exchange.

Before The Deal

The Hut Group was launched in 2004 and focuses on branded goods to customers through more than 60 websites. Last year, it shipped 13 million orders to 190 countries.

Before the Hut Group deal, there were only nine U.K. main market IPOs as of September 2020, according to data compiled by the London Stock Exchange. European companies saw a 50% drop on IPOs in 2019, compared to 2018.

London Stock Exchange | New Issues and IPOs 2020Download

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