By Michael Susin 
 

GSK said Thursday that it will sell its stake in Haleon via a placing to institutional investors.

The pharmaceutical major said it intends to sell up to 240 million shares, the equivalent of up to 2.5% of Haleon's issued share capital.

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

Haleon is a consumer-healthcare business which was spun out of GSK and is partly owned by Pfizer, which currently holds a 32% stake in Haleon.

 

Write to Michael Susin at michael.susin@wsj.com

 

(END) Dow Jones Newswires

May 11, 2023 12:10 ET (16:10 GMT)

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