Ted Baker founder Kelvin halves stake in fundraising bid

Ted Baker

Ted Baker’s founder Ray Kelvin has slashed his stake in the business by 55% as investment firm Toscafund surpasses him as the company’s largest shareholder.

The struggling fashion retailer’s founder has bought just £3.5m worth of new shares in the £95m fundraising round announced yesterday, diluting his stake in the business by 55% to 15.8% so far.

By contrast, investment firm Toscafund has nearly doubled its stake in Ted Baker through the share listing to 26.4% according to The Guardian, making it the fashion retailer’s largest stakeholder.

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