By Ian Walker

THG PLC said late Monday that SoftBank Corp. has sold its entire interest in the company to Qatar Holding LLC and THG's Chief Executive and founder Matthew Moulding for 31.4 million pounds ($35.7 million).

The U.K. e-commerce company said that SoftBank has sold 67.8 million shares to Qatar Holding and 12.8 million shares to Mr. Moulding. The shares were sold at 39 pence each, a 15% discount to the company's closing price of 45.84 pence on Monday.

Mr. Moulding will own 198.7 million shares in the company following the acquisition.

"I'm delighted to be further increasing my family's stake in THG, continuing our unswerving support following on from other recent share purchases," Mr. Moulding said.

"QIA shares the board's vision of the scale of opportunity for THG, building a British global success story in large and growing addressable markets. QIA's long-term investment approach is a positive endorsement for the U.K. as a whole."

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

October 18, 2022 02:20 ET (06:20 GMT)

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