By Christian Moess Laursen

GSK said its plans to sell 270 million of shares in Haleon, taking its stake to around 7.4%.

The British pharmaceutical giant said late Thursday that it will conduct the disposal through a placing of shares in the consumer-healthcare business.

The offer price will be determined by means of an accelerated bookbuild offering process which is to start immediately, it said.

Based on Thursday's closing price of 336.25 pence, GSK would be looking to raise about 988.8 million pounds ($1.20 billion).

U.S. pharma giant Pfizer holds a 32% stake in Haleon, which was spun out of GSK and Pfizer's consumer healthcare business.

Write to Christian Moess Laursen at christian.moess@wsj.com

(END) Dow Jones Newswires

October 05, 2023 13:10 ET (17:10 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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