Updates

THG - Shares rocket following bid approach from Apollo

May 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

News of a preliminary bid approach from private equity firm Apollo has sent the shares soaring 51% since the main buy in February at 63p. We should know by 15 May whether it is a runner - the rising share price says it is, as do some of the Cheshire massive, not just John Goold of activist investor Kelso (8m shares via CFDs and shares) but also double glazing entrepreneur Brian Kennedy, who has bought 37m shares. With cash burning a hole in PE pockets and given chief executive Matthew Moulding’s disenchantment in public markets, I also think it’s easy to see him roll his holding into the acquiring vehicle. We already knew that present trading was going to be more laboured and that THG had decided to discontinue some of its non cor ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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