Haleon stated that Pfizer is to sell approximately 630 million Haleon ordinary shares by means of a public offering in the United states.
The offer price per Security in the Global offer will be decided by book building process and is slated to be declared by March 19, 2024. All the net proceeds which will be accumulated through Global Offer will go to Pfizer but with usual conditions. The finalization of the Global Offer along with the Share Buyback is intended to cut down Pfizer’s interest by 24% in Haleon’s issued Ordinary Share Capital which was earlier used to be 32%.
US drugmaker Pfizer is said to be top shareholders of the consumer healthcare firm Haleon. Presently, Pfizer holds a 32% stake in Sensodyne toothpaste maker Haleon.
As per Global Offer, Pfizer’s Securities are expected to be subject to a 90-day lock up period in favour of Citigroup and Morgan Stanley, subject to certain conditions. In order to participate in the Global offer, the US drugmaker has got all the relevant waivers from the lock-up order.
Haleon famous household brands are Sensodyne toothpaste, Advil, Panadol, Centrum, otrivin and others.In the year 2022, the company was spun out from GSK and it was set up by amalgamating Pfizer and GSK consumer healthcare businesses. From that point on, GSK is selling down its stake in the company. The last sale was in January and it brought down the sale from 12.9% to 4.2%.
Shares of around 315 million pounds worth will be repurchased by Haleon from Pizer off-market, the consumer health company stated.