BlackRock is reportedly preparing to sell nearly half of its stake in THG, sending shares in the e-commerce business sliding.
According to Reuters, deal bookrunner Goldman Sachs said on Tuesday that BlackRock’s planned sale of 58m shares was priced at 195p per share, which is a 10.3% discount to the closing share price on Monday. The deal is valued at £113.1m.
Last month, THG shares tumbled after a capital markets day focused on its e-commerce technology platform Ingenuity failed to reassure investors.
US asset manager BlackRock is THG’s second-largest shareholder.
At 0815 GMT, the shares were down 5.7% at 204.93p.
