Owner of Lookfantastic and Cult Beauty has been under fire over corporate governance
Shares in the Hut Group hit an all-time low on Tuesday after it emerged that BlackRock was halving its stake in the online retailer after a rocky month for the company.
BlackRock, its largest institutional shareholder, is selling 58m shares priced at 195p each, or a 10.3% discount to the stock’s Monday close, according to bookrunner Goldman Sachs. The deal is valued at £113.1m. The world’s biggest fund manager had a 10.1% stake, or nearly 124m shares, in mid-October according to Refinitiv data.
