Pfizer to cut stake in Haleon to 24% from 32%

18th Mar 2024 07:35

(Sharecast News) - Consumer healthcare company Haleon said on Monday that Pfizer plans to sell around 630m shares in the company in a public offering.

The sale will reduce Pfizer's stake from 32% to approximately 24%.

Haleon - which was spun off from GSK - said the offer price per share will be determined by means of a bookbuilding process and is expected to be announced on or about 19 March, following completion.

Pfizer had said in May 2023 that it was planning to cut its stake in Haleon in a "slow and methodical" manner.