25th Mar 2025 11:54
THG PLC - Manchester, England-based online retailer of beauty and nutrition products - Raises GBP90 million in a share and convertible loan issue, including GBP60 million from Founder & Chief Executive Officer Matthew Moulding. THG says the fresh funds will be used to pay off one term loan and pay down another. THG will issue 91.9 million new shares, 7.0% of its existing total, at 32.3 pence each to raise GBP29.7 million from the share placing, which was first announced after the London market close on Monday. The placing is run by Barclays PLC as global coordinator, bookrunner and joint corporate broker. In addition, Moulding will invest GBP5.4 million in shares and GBP54.6 million via a convertible loan. Mouldings share investment will be via the paying up of 17.4 million partly paid F and G shares and their conversion into ordinary shares. THG has a market capitalisation of about GBP470 million and recently was promoted to the FTSE 250 index, joining on Monday.
Current stock price: 35.36p, up 4.0% in London on Tuesday
12-month change: down 44%
By Tom Waite, Alliance News editor
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