Pfizer to sell 700M ordinary shares of Haleon

Pfizer (PFE) announces that it intends to sell approximately 700M ordinary shares in Haleon plc (HLN), representing approximately 7.7% of Haleon’s issued share capital. “There will be no sale of any Ordinary Shares in the form of American depositary shares in Haleon,” Pfizer noted. “The price per Sale Share will be determined by way of an accelerated bookbuilding process to institutional investors. The bookbuilding period will commence immediately following this announcement and may close at any time on short notice. The completion of the bookbuilding process and the results of the Offering, including the number of Sale Shares to be sold and the price per Sale Share, will be announced as soon as practicable thereafter. Pfizer will receive all of the net proceeds from the Offering, subject to customary closing conditions. No Ordinary Shares are being sold or issued by Haleon in the Offering, and Haleon will not receive any of the net proceeds from the Offering. Completion of the Offering is expected to reduce Pfizer’s interest in Haleon from approximately 15.0% to approximately 7.3% of Haleon’s issued ordinary shares with voting rights. J.P. Morgan and Morgan Stanley are acting as joint global coordinators and joint bookrunners,” Pfizer stated in a notice to the London Stock Exchange.