Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
A-Brands

GSK Spins Off Haleon In Biggest European Listing For A Decade

GSK has officially spun off its consumer health business, Haleon, in the biggest listing in Europe for more than a decade.

The new company becomes the world's biggest standalone consumer health business, home to brands including Sensodyne toothpaste and Advil painkillers.

Haleon shares will trade under the ticker 'HLN' on the London Stock Exchange.

GSK, meanwhile, will become New GSK, focused solely on vaccines and prescription drugs.

The new business has been buoyed by recent clinical trial successes, including its potential blockbuster RSV vaccine, and a cash boost from the consumer health spin-off.

Share Split

With the split complete, all GSK shareholders receive one Haleon share for each GSK share they own.

On Monday, GSK shares will trade excluding the value of the consumer healthcare business, so its price will likely drop.

After close of trading on Monday, GSK will consolidate its share price, returning it to roughly the same as before the demerger.

That will ensure the company's earnings per share and share price can be confirmed with previous periods, it has said.

The ratio for the GSK share consolidation will depend on fluctuations in the volume and price of GSK shares during trading on Monday, the company said.

Demerger Completed

In a statement on its website, GSK said, 'GSK plc as today (Monday 18 July 2022) completed the demerger of the Consumer Healthcare business from the GSK Group to form the Haleon Group. The shares of Haleon plc will be admitted at 8.00 a.m. today to the Premium Listing segment of the Official List and to trading on the Main Market of the London Stock Exchange'.

News by Reuters, edited by ESM – your source for the latest A-Brands news. Click subscribe to sign up to ESM: European Supermarket Magazine.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days