Get the latest news on THG stock with updates on market trends, financials, and analysis from Benzinga. Stay informed on THGPF performance

Latest THG Stock News | OTC:THGPF | Benzinga

THG PLC is an online retailer. It provides an end-to-end direct-to-consumer ("D2C") e-commerce solution for consumer brand owners under a Software as a Service, in addition to stand-alone services, including hosting, content creation and translation. Its business is operated through four businesses: THG Ingenuity, THG Nutrition, THG Beauty and Other. The company operates in the United Kingdom.

News

Penny Stocks

Small Cap

Tech

Media

CLCMF

SFTBF

SFTBY

THGHY

THGPF

Softbank Group Corp (OTC: SFTBF) (OTC: SFTBY) offloaded its stake in the struggling British online shopping firm 

More Stake Sale Of Softbank&#39;s Loss Making Businesses, Latest Being This British E-Commerce Retail

THG PLC

Softbank Group Corp&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/sftby#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SFTBY</a>) offloaded its stake in the struggling British online shopping firm&nbsp;THG Plc&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/thgpf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">THGPF</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/thghy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">THGHY</a>) to co-founder Matthew Moulding and Qatar Investment Authority.

The move ended speculation about Softbank&#39;s fateful investment, writing off up to &pound;450 million ($511 million) of a stake previously valued at about &pound;500 million, Bloomberg&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-10-17/softbank-sells-thg-stake-to-ceo-qia-after-massive-share-drop?srnd=technology-vp&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported</a>.

SB Northstar, the fourth largest shareholder in THG, will sell its 80.6 million shares, representing about 6.4% of the British company&#39;s capital, Reuters&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/markets/deals/japans-softbank-sells-stake-thg-2022-10-17/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reports</a>.

THG and SoftBank had agreed to terminate their collaboration in July due to challenging global market conditions.

While it is unclear exactly how much Softbank lost on the deal, it is selling its stake for just &pound;31 million. The QIA, already a shareholder, will purchase about 84% of the shares, and the transaction will likely occur on October 20.

THG, formerly known as The Hut Group, operates hundreds of websites offering beauty, skincare, and health-food products and helping rivals sell online via Ingenuity.&nbsp;

THG&#39;s shares have fallen by 80% in 2022. It issued a profit warning in September on weaker consumer appetite in the U.K. and higher costs for raw materials&nbsp;

Takeover speculation has constantly stirred around THG after Moulding said he regretted floating the company and hinted he might take the business private again.

Moulding&#39;s purchase will take his holding in THG to 320.9 million shares, about 25% of the group&#39;s capital.

In September, Softbank sold its entire stake in&nbsp;Sinch AB&nbsp;(OTC:&nbsp;CLCMF) following a share price collapse of more than 90% in the Swedish&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/09/29097875/softbank-offloads-stake-in-this-pandemic-favorite-as-losses-weigh" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">cloud-based platform provider</a>.&nbsp;

Softbank founder Masayoshi Son had shared cost-cut intentions at his conglomerate and the Vision Fund investment arm after a record $ 23 billion loss.&nbsp;

Price Action:&nbsp;SFTBY shares traded lower by 1.85% at $18.60 on the last check Tuesday.

Comments

THG Stock News

News

Latest THG Stock News | OTC:THGPF | Benzinga

Tuesday, October 18, 2022

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga