RESEARCH TRIANGLE PARK – GSK is selling shares worth some $1 billion it had held onto when it spun off Haleon in 2022.

“GSK announces that it intends to sell up to 240m ordinary shares in Haleon, equivalent to up to 2.5% of Haleon’s issued share capital,” GSK said in a statement.

Bloomberg says the shares were sold Thursday for some $1 billion.

GSK kept a near 13% share in Haleon as part of the spinoff deal.

“The disposal will be conducted through a placing of ordinary shares in Haleon to institutional investors (the “Offering”). The offer price will be determined by means of an accelerated bookbuild offering process which is to start immediately,” GSK said.