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UPDATE 1-GSK to sell 2.9% stake in former consumer healthcare business Haleon
Dow Jones Industrial Average -0.62%
S&P 500 index -0.24%
NASDAQ +0.23%
Haleon plc American Depositary Shares (Each representing two Ordinary Shares) +0.20%
GlaxoSmithKline plc Sponsored ADR -0.93%
Dow Jones Industrial Average DJI | 48114.26 | -0.62% |
S&P 500 index SPX | 6800.26 | -0.24% |
NASDAQ IXIC | 23111.46 | +0.23% |
Haleon plc American Depositary Shares (Each representing two Ordinary Shares) HLN | 9.85 | +0.20% |
GlaxoSmithKline plc Sponsored ADR GSK | 48.78 | -0.93% |
Adds details on share sale and background throughout
Oct 5 (Reuters) - GSK GSK.L intends to sell a 2.9% stake, or about 270 million shares, in its spun-off consumer healthcare business Haleon HLN.L, the British drugmaker said on Thursday.
The sale will bring down the drugmaker's current 10.3% holding in the Sensodyne maker Haleon, which was spun out and listed on the London Stock Exchange in July 2022.
GSK earlier this year sold 240 million shares in Haleon to raise about 804 million pounds ($1 billion), and lowered its stake from 12.9% it initially retained in the business.
The offer price for the sale will be determined by means of an accelerated bookbuild offering process, the company said.
As the world's biggest standalone consumer health company, Haleon sells non-prescription drugs, vitamins and oral care products. The company was formed in 2019 with the merger of GSK and Pfizer's PFE.N consumer healthcare business
(Reporting by Anandita Mehrotra and Mariam Sunny in Bengaluru; Editing by Shweta Agarwal)
((Anandita.Mehrotra@thomsonreuters.com;))
