GSK plans to sell 300M shares of Haleon, cut stake to 3.2%

GSK (GSK) announced that it intends to sell approximately 300M ordinary shares in Haleon (HLN), equivalent to approximately 3.2% of Haleon’s issued share capital. As a result of the disposals announced on May 12, 2023 and October 6, 2023, GSK has since sold a total of 510M ordinary shares in Haleon, reducing its stake in Haleon to approximately 7.4%. The disposal announced today will be conducted through a placing of ordinary shares in Haleon to institutional investors. GSK has entered into a secondary block trade agreement with BofA and Citigroup under which BofA and Citi have been appointed to act as the joint global coordinators of the offering. GSK and Pfizer (PFE)), which holds a 32% stake in Haleon, have each undertaken to BofA and Citi not to dispose of any shares in Haleon for a period of 60 days after the date of settlement of the offering.