Several global investment firms have decreased their shareholdings in THG, the software and online retail giant headquartered in Greater Manchester.
- Key investors like Jupiter Fund Management, Northern Trust, and Citigroup cut their combined stakes from 8.94% to 4.97%.
- A recent document filed with the London Stock Exchange confirmed these changes.
- Matthew Moulding, THG founder and CEO, remains the single largest shareholder in the company.
- Moulding also made headlines for gifting shares worth over £800,000 to various friends.
Several global investment firms recently reduced their stakes in THG, a leading software and online retail giant based in Greater Manchester. Significant players including Jupiter Fund Management, Northern Trust, and Citigroup saw their combined holdings decrease from 8.94% to 4.97%. This key development was revealed through a newly filed document with the London Stock Exchange, shedding light on the shifting dynamics within the company.
Matthew Moulding, the founder and chief executive of THG, holds the largest share in the company, maintaining a stake of approximately 22%. In a notable move, Moulding purchased an additional 1.169 million shares at a price of 70.2287p each. Interestingly, he immediately gifted these shares, valued at over £800,000, to various unnamed friends. The recipients of these shares remain unidentified, and the exact number of beneficiaries is not disclosed.
In another significant event, a $1.6bn deal involving Japanese investment giant SoftBank was called off. Initially announced in May 2021, SoftBank’s SB Management had intended to acquire a 19.9% stake in THG Ingenuity, a division of THG, valuing it at $6.3bn. Additionally, SBM planned to purchase a $730m stake in THG itself. These deals, however, were abandoned, marking another pivotal turn in THG’s recent financial activities.
These strategic shifts reflect the dynamic nature of investment activities surrounding THG.