RE: silly Bantham25 Feb 2022 09:50
FT - Re Blackrock
BlackRock, the largest institutional investor in THG, has sold almost half of its stake in the UK ecommerce group after a sharp fall in the share price in recent months.
The world’s largest asset manager sold 58m shares in THG at 195p per share, according to bookrunner Goldman Sachs, a 10.3 per cent discount to the closing price .
BlackRock’s active funds bought into THG before its initial public offering. One person close to the asset manager said reducing the stake reflected “prudent risk management as the stock has fallen”.
The person added: “We still support management and remain invested in the company. We believe in the stock’s fundamentals and there have been improvements on the governance side.”