Offer price for sale of 630 mln shares to be announced around March 19
Haleon shares drop 2.2
Haleon to buy 315 mln pounds worth of shares from Pfizer offmarket

March 18 Reuters Consumer healthcare firm Haleon said on Monday that U.S. drugmaker Pfizer, its top shareholder, will sell down its stake in the company to about 24.

Pfizer, which currently holds a 32 stake in Haleon, said last year it planned to cut its ownership in a slow and methodical manner within months.

The offer price per share is expected to be announced on or around March 19, following the completion of a bookbuilding process, Haleon said in a statement.

The sale of 630 million shares would be worth about 2.03 billion pounds 2.58 billion, according to Haleon39;s Friday closing price.

Shares in the FTSE 100listed company dropped 2.2 to 315 pence in early trading on Monday.

Haleon, which makes household brands such as Sensodyne toothpaste and Advil painkillers, was spun out of British drugmaker GSK in July 2022. It was formed in 2019 by merging GSK and Pfizer39;s consumer healthcare businesses.

GSK has since sold down its stake in the company, with the last sale in January bringing down its shareholding to 4.2 from the 12.9 it initially retained in the business. It is Haleon39;s secondlargest shareholder.

Haleon will also repurchase shares worth about 315 million pounds from Pfizer offmarket, it said on Monday.

The Londonlisted company last month announced plans to buy back 500 million pounds…