GSK (GSK) announces that it intends to sell up to 240M ordinary shares in Haleon (HLN), equivalent to up to 2.5% of Haleon’s issued share capital. The disposal will be conducted through a placing of ordinary shares in Haleon to institutional investors The offer price will be determined by means of an accelerated bookbuild offering process which is to start immediately, GSK said in a statement. GSK has entered into a secondary block trade agreement with BofA Securities under which BofA Securities has been appointed to act as the sole global coordinator of the offering. GSK and Pfizer (PFE), which holds a 32% stake in Haleon, have each undertaken to BofA Securities not to dispose of any shares in Haleon for a period of 60 days after the date of settlement of the offering.
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