Trading
Funds Managed by BlackRock to Sell 55 Million Shares in Thg – Bookrunner
Published by maria gbaf
Posted on November 2, 2021
1 min readLast updated: January 28, 2026
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Published by maria gbaf
Posted on November 2, 2021
1 min readLast updated: January 28, 2026
Add as preferred source on GoogleBlackrock funds are selling 55 million shares in THG after a 35% share price drop. THG is addressing governance issues and plans a premium listing.
(Reuters) – Multiple funds managed by Blackrock are selling about 55 million shares in British e-commerce group THG, a bookrunner said on Monday.
Blackrock is the biggest institutional shareholder of THG after the company founder Matthew Moulding’s 14.19% holding, according to Refinitiv Eikon.
THG was rocked by a 35% share price collapse after an underwhelming investor presentation in October, forcing it to address corporate governance concerns more broadly.
The company has tried to allay investor concerns, but so far has had little traction in halting the fall in its share price.
THG appointed an executive from backer SoftBank to its board of directors last month and said it was looking for an independent chair ahead of a proposed premium listing on the London Stock Exchange.
Shares of THG have fallen nearly 66% since the start of September.
($1 = 0.7320 pounds)
(Reporting by Shanima A in Bengaluru, Rachel Armstrong in London; Editing by Krishna Chandra Eluri)
The article discusses Blackrock's sale of 55 million shares in THG amid a significant share price decline.
THG's share price fell due to a poor investor presentation and ongoing corporate governance concerns.
THG is addressing governance issues by appointing a SoftBank executive to its board and seeking an independent chair.
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