THG Plc plans to demerge its technology platform and switch the listing of its core beauty and nutrition business in an attempt to boost the e-commerce company’s flagging share price.
The technology division known as Ingenuity provides online commerce services to other retailers. If spun off, it would leave THG with its beauty and nutrition arms, which it described as profitable and cash-generative in a statement Tuesday morning.
It follows a deal in June to sell its luxury brands, which include Coggles, to Mike Ashley’s Frasers Group Plc.
Shares in THG, previously known as The Hut Group, rose in early trading in London on Tuesday before falling as much as 4.9 percent. They have endured a bruising time on the stock market, falling about 90 percent since THG’s listing in 2020 that valued it at more than £5 billion ($6.6 billion).
Now THG, which owns brands such as Lookfantastic, plans to transfer its listing to a category that…
