A pending move to the Main Market reflects the operational reality at Intuitive Investments and will widen investor reach. Also, appointing Chief Investment Officer Giles Willits as CEO telegraphs a dramatic growth ambition. To wit, Mr Willits was previously Group CFO at Entertainment One where he led its transition from AIM to a FTSE 250 business, with its eventual sale for over US$4bn in 2019. Working with IIG Chairman, Sir Nigel Rudd, who built Williams Holdings to be a FTSE 100 winner, the ambition is clear: to super-size the investment proposition. That the Lucky World network is now 2,500+ lottery shops underpin forecasts. Our view is unchanged: IIG shareholders have a substantial opportunity from the asset-light, cash-generative Hui10 business. We see a significant valuation opportunity, with an intrinsic value for Hui10 of 969p.