GSK Sells $1.24 Billion Worth of Haleon Shares in Block Trade

On January 17, GSK announced that it had agreed to sell 300 million shares of Haleon plc (placement shares) at a price of 326 pence per share, representing approximately 3.2% of the total equity, raising £978 million ($1.24 billion).

After the completion of the placement, GSK will hold approximately 385 million ordinary shares of Haleon, accounting for about 4.2% of Haleon's issued share capital. GSK initially held approximately 13% of the shares following the demerger of Haleon in July 2022.

GSK's declining interest in Haleon is not surprising. The focus of the consumer health business spin-off is to allow GSK to concentrate more on innovative drugs. GSK has stated that it plans to monetize its stake in Haleon "in a disciplined manner" to improve its balance sheet.

Currently, Pfizer (holding 32% of Haleon's shares) has not taken any selling actions, but it also plans to gradually sell its equity to avoid causing too much fluctuation in the company’s stock price.

GSK and Pfizer both committed to not selling any shares of Haleon within 60 days after the completion of the placement.

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