Boohoo co-founder, Mahmud Kamani, has recently invested in the Australian flash sales platform, MySale. Kamani has purchased over 45 million shares on 31 August, which equates to a 4.76% stake in the company. However, the details of the investment have not been disclosed.

This investment comes shortly after Frasers Group, the largest shareholder in MySale with a 28.7% holding, made a cash offer to acquire the company. The offer valued the shares that Frasers Group does not already own at £13.6 million, offering 2p per share for the online retailer. MySale has stated that its board will evaluate the offer and provide further updates in the near future.

Interestingly, Harold Tillman, former head of Jaeger and Aquascutum, has also been revealed to hold a stake of 1.26% in MySale, according to recently-filed documents with the London Stock Exchange. It is currently uncertain what Kamani’s plans are and whether he will seek to gain control of MySale.

Frasers Group’s acquisition of its stake in MySale earlier this summer was not publicized, so the exact amount remains undisclosed. However, Frasers Group believes that the synergy between its resources and the capabilities of MySale can accelerate its global growth strategy, improve operational capabilities, and enhance its offering to consumers. Furthermore, this investment provides an opportunity for Frasers Group to explore additional investment prospects in Australia and surrounding regions.

Useful links:
1. [Boohoo co-founder invests in MySale](source)
2. [Frasers Group makes cash offer to acquire MySale](source)