Overview
- THG exceeded its initial fundraising goal of £75 million, securing £95.4 million to support the spin-off of its technology platform, Ingenuity.
- Mike Ashley's Frasers Group and THG's CEO Matthew Moulding each contributed £10 million to the fundraising effort.
- The demerger is aimed at simplifying THG's structure, focusing on its beauty and nutrition businesses, and improving its financial health.
- Ingenuity, which supports online operations for major retailers, has yet to turn a profit but is seen as a key strategic asset.
- THG plans to enhance its market visibility by aiming for inclusion in the FTSE indices following the spin-off.