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Birmingham Post
Birmingham Post
Business
Jon Robinson

Second largest shareholder in retail and software giant THG increases stake

The second largest shareholder in online beauty, wellness and software giant THG has further increased its stake.

Sofina Capital now has a holding of more than 9% in the Greater Manchester-headquartered group, up from just over 8%.

The private equity firm can trace its roots back more than 120 years and is headquartered in Brussels.

READ MORE: THG: All you need to know about Matthew Moulding's beauty, wellbeing and software giant

The move comes after US-based investment firm T. Rowe Price has snapped up a 5% stake in THG earlier this month.

That deal made T. Rowe Price THG's eighth largest shareholder at the time.

Co-founder, chairman and chief executive Matthew Moulding remains the largest single shareholder in THG.

At the start of November shares in THG fell to a record low after its largest institutional shareholder sold nearly half its stake.

US asset manager BlackRock has said it would sell 58 million shares in the Greater Manchester company at 195p each, valuing the deal at £113.1m.

It came after BlackRock, which is the world's largest asset manager, held a 10.1% stake, or almost 124 million shares, in THG as of mid-October.

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