Pfizer Intends to Sell Around 540 Million Ordinary Shares in Haleon — Update
By Cristina Gallardo
Pfizer said it intends to sell around 540 million ordinary shares in British consumer-healthcare business Haleon, or about 5.9% of the company's issued share capital.
The pharmaceutical giant said Monday that the price per share will be determined by way of an accelerated bookbuilding process to institutional investors.
The sale is valued at roughly 2.12 billion pounds ($2.84 billion) based on Haleon's closing share price of 3.93 pounds on Monday.
Pfizer will receive all net proceeds from the offering, it said.
In a separate statement, Haleon said it agreed to make an off-market purchase of approximately 230 million pounds ($307.7 million) worth of its ordinary shares from Pfizer.
Write to Cristina Gallardo at cristina.gallardo@wsj.com
(END) Dow Jones Newswires
September 30, 2024 13:00 ET (17:00 GMT)
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