19 March 2024 – According to Haleon, Pfizer plans to conduct a public offering in the US to sell roughly 630 million Haleon common shares. The offer price per security in the global offer will be determined using a book-building method. It is expected to be announced by March 19, 2024.
Pfizer will receive all net funds from the Global Offer, subject to standard guidelines. The completion of the Global Offer and the Share Buyback are meant to reduce Pfizer’s previously held 32% interest in Haleon’s issued Ordinary Share Capital by 24%.
According to the Global Offer, Pfizer’s securities are anticipated to be locked up for 90 days in favour of Morgan Stanley and Citigroup, subject to specific requirements. The US drugmaker has obtained all necessary waivers from the lock-up order to take part in the global offer.
Conclusion
Famous household brands from Haleon include Otrivin, Advil, Panadol, Centrum, and Sensodyne toothpaste. The company was founded by combining the consumer healthcare operations of Pfizer and GSK and spun out from GSK in 2022. GSK is then selling off a portion of its ownership in the business. Sales decreased from 12.9% to 4.2% after the last sale in January. Haleon, a consumer health company, will repurchase shares from Pizer for around 315 million pounds off-market.
