Haleon: share drops with Pfizer reducing its stake

(CercleFinance.com) - Haleon's shares were down on the London Stock Exchange on Monday, as its main shareholder, the US giant Pfizer, reduced its stake in the British consumer healthcare group.


Haleon announced this morning that Pfizer intends to reduce its shareholding via a placing of 630 million shares, a transaction worth nearly £2bn (around $2.5bn) at current share price levels.

Out of this amount, Haleon has committed to repurchase up to £315m (around $400m).

Following the placement, Pfizer will remain Haleon's largest shareholder, with a stake of around 24%, compared with 32% previously.

The US pharmaceutical giant had become the owner of a stake in Haleon following the 2019 combination of its OTC business with GSK, a joint venture the latter had decided to float in 2022.

Falling over 2%, Haleon was one of the FTSE 100 index's biggest decliners on Monday.


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