LONDON (ShareCast) - (Sharecast News) - Japan's SoftBank has agreed to sell its entire stake in ecommerce group THG to the Qatar Investment Authority and co-founder Matthew Moulding.
SoftBank will sell just over 80.62m shares at 39p each, with the final settlement of the sale expected to take place on 20 October. QIA will buy just over 67.8m shares, while Moulding will acquire 12.82m through FIC Shareco.

THG noted on Tuesday that QIA is an existing shareholder, having cornerstoned the company's initial public offering in September 2020.

"This acquisition by FIC Shareco on behalf of Matthew Moulding further evidences his commitment to the group and its strategy, and is his fourth investment in THG since IPO, with over £38m invested in August 2021, July 2022 and October 2022," it said.

The purchase will take Moulding's direct and indirect holding to a total of just over 320.9m shares.

Matthew Moulding said: "I'm delighted to be further increasing my family's stake in THG, continuing our unswerving support following on from other recent share purchases. QIA shares the board's vision of the scale of opportunity for THG, building a British global success story in large and growing addressable markets. QIA's long-term investment approach is a positive endorsement for the UK as a whole.

"We at THG extend our thanks to Softbank for their support as a financial and commercial partner, and we will continue to benefit from the relationships formed across their international technology portfolio."

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