1009 GMT - THG's refinance and capital raise reflect a challenging moment for the U.K. e-commerce company, Panmure Liberum analysts Anubhav Malhotra and Wayne Brown say in a note. The current macroeconomic backdrop mixed with slower growth and profitability has driven a need for cash, they say. The company is looking to raise between 60 million pounds and 91.2 million pounds via an equity raise and a convertible loan. However, this could dilute shares by between 13.5% and 20.5%, the analysts note. Though it could also save up to 15 million pounds in interest costs, they add. Panmure Liberum downgrades the stock to hold from buy. Shares are up 3.1% but down more than 20% since the start of the year. (michael.susin@wsj.com)

(END) Dow Jones Newswires

March 25, 2025 06:09 ET (10:09 GMT)

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