GSK Completely Exits Sensodyne Toothpaste Maker Haleon In $1.6B Sale

GlaxoSmithKline plc Sponsored ADR -0.68% Post
Haleon plc American Depositary Shares (Each representing two Ordinary Shares) +1.61% Post
Pfizer Inc. -1.15% Post

GlaxoSmithKline plc Sponsored ADR

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Haleon plc American Depositary Shares (Each representing two Ordinary Shares)

HLN

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Pfizer Inc.

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GSK plc (NYSE:GSKconfirmed the sale of 385.3 million shares in Haleon plc (NYSE:HLN) for $1.58 billion.

The shares represented around 4.2% of the issued share capital of Haleon.

Following the settlement of the placing, GSK will have fully exited its position and will no longer hold any ordinary shares in Haleon. 

See Also: Colgate-Palmolive Has Strong Brand-Building And Analytics-Driven Marketing Strategy, Says Analyst

Following the demerger and premium listing of Haleon in July 2022, GSK initially retained a 12.94% stake in Haleon

As a result of the disposals, GSK has sold 1.19 billion shares in Haleon for cumulative gross proceeds.

In October, GSK raised $1.1 billion, or £885.6 million, by selling some of its shares in Haleon, reducing its stake in the consumer healthcare business to around 7.4%.

In May, GSK sold 240 million shares of Haleon in a move that has raised 804 million pounds for the firm. The offloaded shares are equivalent to up to 2.5% of Haleon's issued share capital.

In March, Pfizer Inc (NYSE:PFE) announced plans to reduce its stake in Haleon to approximately 24%.

Price Action: HLN shares are up 0.60% at $8.41 during the premarket session at last check Friday.

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Image: Wikimedia

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