Sept 17 Reuters British ecommerce firm THG said on Tuesday it was actively looking to facilitate the demerger of its technology services arm, THG Ingenuity, as it looks to shore up its balance sheet and improve its share performance.
After issuing several profit warnings due to inflation and a costofliving crisis, following a 7 billion London listing in 2020, THG is witnessing an upturn in demand for its beauty business this year, which is aiding its expected revenue growth.
THG, which owns online brands Lookfantastic and Myprotein, also said it would apply to transfer its listing to the new regime created for commercial companies on the London Stock Exchange, which it expects would improve passive investment flows and liquidity.
Britain in July overhauled its rule for companies listing on the LSE, aiming to attract a wider range of listings by reducing red tape.
THG, which undertook a restructuring as part of a strategic review of its lossmaking operations last year, would consist of THG Beauty and THG Nutrition, following the potential demerger.
Reporting by Radhika Anilkumar and Shanima A in Bengaluru; Editing by Rashmi Aich
Source Reuters