A group of global investment giants have lowered their collective stakes in software and online retail giant THG.
The shares in the Manchester-headquartered company held by Jupiter Fund Management on behalf of BNP Paribas, Northern Trust and Citigroup have been reduced from 8.94% to 4.97%.
The sell off has been revealed in a newly-filed document with the London Stock Exchange.
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THG founder and chief executive Matthew Moulding is the single largest shareholder in the group, with stake of about 22%.
Mr Moulding recently hit the headlines as it was revealed he had handed hares worth more than £800,000 to "various friends"
The CEO purchased a further 1.169 million shares in the Manchester-headquartered retail giant at a price of 70.2287p each. He then immediately gifted the shares to various friends for free.
THG did not named the recipients of the shares, how many there are or how many shares they have each been given.
It was also recently announced that a $1.6bn deal that would have seen Japanese investment giant SoftBank take a near 20% stake in a major division of THG had been abandoned.
It was announced in May 2021 that SB Management (SBM), a division of SoftBank, had bought an option to acquire a 19.9% holding in THG Ingenuity that valued it at $6.3bn.
It was also confirmed that SBM would also buy a $730m stake in Manchester-headquartered THG.
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