GSK sells partial ownership in spin-off Haleon at a discount. GSK (GSK.L) sold 240 million Haleon (HLN.L) shares at 335 pence each on Friday, raising 804 million pounds ($1.01 billion).
Haleon, GSK, and Pfizer (PFE.N)’s largest standalone consumer health firm distributes vitamins, oral care, and non-prescription medications.
GSK, the second-largest shareholder, will own 10.3% of Haleon after the transaction, 2.3% below Thursday’s closing price of 342.85 pence.
Haleon shares rose 1.6% to 348 pence early Friday.
Higher costs lowered quarterly profit last week.
GSK and Pfizer merged their consumer healthcare businesses in July 2019, becoming Haleon, manufacturer of Sensodyne. July 2022 saw its spinout and London Stock Exchange listing.
GSK and Pfizer will not sell Haleon shares for 60 days. Last week, Pfizer told the Financial Times that it would sell its stock “slow and methodically” within months.
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