GSK Cuts More Stake In Its Spun-Off Consumer-Healthcare Business Haleon, Raises Over £900M
Portfolio Pulse from Vandana Singh
GSK plc has sold 300 million shares of Haleon plc, raising approximately £978 million. Post-sale, GSK's stake in Haleon is reduced to about 4.2%. Both GSK and Pfizer, which holds a 32% stake in Haleon, have agreed not to sell any more shares for 60 days. This is the third time GSK has reduced its holding in less than a year. GSK's shares saw a slight increase, while Haleon's shares dropped in the premarket session.
January 17, 2024 | 1:14 pm
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POSITIVE IMPACT
GSK successfully sold 300 million Haleon shares, raising £978 million and reducing its stake to 4.2%. The stock saw a minor increase in premarket trading.
The successful share sale and slight premarket increase suggest a positive short-term impact on GSK's stock price, although the impact may be moderate due to the ongoing reduction of GSK's stake in Haleon.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Pfizer, holding a 32% stake in Haleon, has committed alongside GSK not to sell any further shares for 60 days, which may stabilize the stock in the short term.
Pfizer's agreement not to sell shares in the near term could be seen as neutral for its stock, as it neither adds nor removes immediate market pressure.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Haleon's shares dropped by 1.41% in the premarket session following the news of GSK's stake sale.
The sale by GSK and the subsequent drop in Haleon's premarket share price indicate a negative short-term impact, likely due to investor concerns over the reduced stake by GSK.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90