GSK spinoff Haleon starts trading in London

Monday, 18. July 2022 11:01

GlaxoSmithKline (GSK) announced today in its press release that it has finished its demerger of the Consumer Healthcare business, leading it to form an independent company Haleon Group, which started trading on Monday on the Main Market of the London Stock Exchange. The Consumer Healthcare business was previously a joint venture between GSK and Pfizer.

American Depositary Shares ''representing shares of Haleon plc'' will start trading on the New York Stock Exchange on July 22, Friday, the company added, noting at the same time that it has approved the consolidation of its GSK shares, which will happen today after the market closes. GSK CEO Emma Walmsley said today that Haleon, the largest company to list in London for over a decade, was worth £31 billion ($36 billion) today at the beginning of its first trading day.

Haleon plc shares marked an increase by 0.62% on Monday on London Stock Exchange following the news.

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Author:
Baha Breaking News (BBN) / MM