THG’s market cap has topped £500m  on the back on a 3 per cent rise in its share price on Monday morning.

The Manchester retailer,  which is set to make a swift return to the FTSE 250 list on Wednesday (September 24th), saw its share price rise to 37p by 10.30am.

Analysts have been buoyed by the performance of Myprotein  and talk of  THG’s planned partnership with an unnamed ‘global confectionary leader’.

THG’s market cap currently stands at £511m – up from £352m at the start of June.

Although a significant improvement on its recent performance it’s still well down on THG’s £5.4bn valuation at the time of its 2020 IPO.