Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

GSK raises $1.1 billion from Haleon stake sale

by Uma
0 comment
2023 10 06T063440Z 2 LYNXMPEJ9505O RTROPTP 4 GSK RESULTS

GSK raises $1.1 billion from Haleon stake sale

(Reuters) -British drugmaker GSK on Friday said it raised 885.6 million pounds ($1.08 billion) from a stake sale in Haleon, bringing down its shareholding to 7.4% in the world’s largest standalone consumer healthcare firm.

The sale of 270 million shares at 328 pence apiece, represented a discount of about 2.5% to Haleon’s last close of 336.25 pence on Thursday.

GSK earlier this year sold 240 million shares in Haleon to raise about 804 million pounds ($1 billion), and lowered its stake to 10.3% from 12.9% it initially retained in the business.

Haleon was formed in 2019 through a merger of GSK and Pfizer’s consumer healthcare businesses. It was spun out and listed on the London Stock Exchange in July 2022.

Pfizer, which holds a 32% stake in Haleon, said in May it plans to cut its ownership in a “slow and methodical” manner within months.

($1 = 0.8216 pounds)

(Reporting by Prerna Bedi in Bengaluru; Editing by Sonia Cheema)