Oct 6 Reuters British drugmaker GSK on Friday said it raised 885.6 million pounds 1.08 billion from a stake sale in Haleon, bringing down its shareholding to 7.4 in the world39;s largest standalone consumer healthcare firm.

The sale of 270 million shares at 328 pence apiece, represented a discount of about 2.5 to Haleon39;s last close of 336.25 pence on Thursday.

GSK earlier this year sold 240 million shares in Haleon to raise about 804 million pounds 1 billion, and lowered its stake to 10.3 from 12.9 it initially retained in the business.

Haleon was formed in 2019 through a merger of GSK and Pfizer39;s consumer healthcare businesses. It was spun out and listed on the London Stock Exchange in July 2022.

Pfizer, which holds a 32 stake in Haleon, said in May it plans to cut its ownership in a slow and methodical manner within months.

1 0.8216 pounds

Reporting by Prerna Bedi in Bengaluru; Editing by Sonia Cheema

Source Reuters