THG PLC (LSE:THG ) founder Matthew Moulding has splashed out almost £10 million topping up his stake in the struggling beauty and health products e-commerce platform.
Moulding, who is chief executive, brought around 20.4 million shares at 49p through his FIC Shareco vehicle.
The purchase is part of a £95 million funding to facilitate the split of its Ingenuity digital arm and beauty and nutrition business.
It takes his total stake in the group to around 219 million listed and 112.1 million unlisted shares.
Originally, THG raised £75 million from institutions, but the size of the offer was increased to £95 million helped by the subscription from Moulding and also £10 million from Mike Ashley’s Frasers Group.
Moulding’s shares were bought for 49p, a small premium to the price yesterday of 46.74p.