THG has attracted the debut, £2.7m investment from newly created “activist investor” Kelso Group Holdings PLC, which said The Hut Group was a “hugely exciting but significantly undervalued business.”
The £2.7m purchase of THG shares at an average price of 54.5p, representing around 0.4 per cent of the ecommerce and tech giant, is the first investment for Kelso, which floated in London with £3m of new cash earlier this month.
On its website, Kelso promises to “identify, engage and unlock trapped value in UK-listed companies” and “effect change where existing shareholders are often unable or unwilling to do so themselves.” It is led by chief executive John Goold, former boss of small-cap broker Zeus Capital, and chief investment officer Jamie Brooke, former lead fund manager of the Hanover Catalyst Fund and the Volantis small cap investment team.
Kelso Group said in a statement: “The board of Kelso believes that THG is a hugely exciting but significantly undervalued business.
“Matthew Moulding the THG founder and CEO has built a business with true global scale in two…
