Japanese technology investor takes 9% share

The Hut Group last night struck a deal with Softbank that will lead to the Japanese conglomerate investing $2.3 billion in one of Britain’s fastest-growing technology companies.

Softbank, run by Masayoshi Son, the richest man in Japan, is immediately buying $730 million in new shares in THG as part of a $1 billion cash call.

Among the other institutions taking part in that placing is the Belgian investor Sofina, a long-term backer of THG, which is buying a further $85 million worth of shares.

Read more/Source: The Times