THG shares plummet to record low as BlackRock sells half its stake
THG’s largest institutional investor BlackRock has sold almost half of its shares as the online retailer faces ongoing concerns around its corporate governance and business model.
US firm BlackRock, one of the world’s largest asset management firms, previously held a 10.1% stake in the ecommerce business, according to Refinitiv data. It was the company’s second-largest shareholder after chief executive and co-founder Matthew Moulding.
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