THE WHAT? THG Founder, Matthew Moulding has admitted that he regrets floating on the London stock exchange last year and is tempted to reverse his decision, according to a report published by Bloomberg quoting an interview run by GQ Magazine.
THE DETAILS THG has lost almost 75 percent in value since its IPO as shareholder concerns over the company’s corporate governance and the future success of the Ingenuity platform grow. Talking to GQ Magazine, per Bloomberg, Moulding expressed regret over his decision to float in London instead of New York.
THE WHY? Moulding told GQ, “We do have other options in terms of I’m a big shareholder, more than half of the business is owned by me and a few people that I’m close with.”