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THG PLC - Manchester-based e-commerce retailer - Founder & Chief Executive Officer Matthew Moulding takes part in THG’s equity raise, as announced last week. Moulding buys 20.4 million shares via FIC Shareco Ltd at 49 pence, worth £10.0 million on Tuesday. Moulding now has 341.3 million shares, of which 219.2 million are ordinary voting shares - 14.4% of the expanded total - and 122.2 million are unlisted ordinary shares. THG on Friday said it raised £95.4 million in total from the sale of 194.7 million new shares, 14.6% of the total prior to the raise, at 49p. THG raised £75 million from a share placement run by Barclays, Jefferies and Peel Hunt. To that was added the £10 million investment by Moulding and £10 million from acquisitive fellow retailer Frasers Group PLC. The ‘strategic investment’ by Frasers followed a partnership between THG and Frasers that was announced back in June. The equity raise will be used to finance the demerger of THG’s Ingenuity division, which operates its e-commerce platform, so as to make THG a pure-play retailer of consumer beauty and nutrition products. THG Chief Financial Officer Damian Sanders also takes part in the equity raise, buying 153,061 shares. Current stock price: 48.04p, up 2.8% in London on Wednesday 12-month change: down 28% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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