GSK has pocketed £886m after offloading a chunk of its stake in the spun off consumer healthcare arm Haleon, the firm announced this morning.
The FTSE 100 healthcare giant announced yesterday that it would sell some 270m in ordinary shares at a price of 328p per share.
The sale has now slashed the size of its stake to around 7.4 per cent. GSK and Pfizer, which holds a 32 per cent stake in Haleon, have each undertaken not to dispose of any further shares in Haleon for a period of 60 days following the latest sale.
GSK spun off the consumer healthcare arm last year in a blockbuster float on the London market.
Haleon fetched a £30.5bn price tag on its debut on the market last year, placing it at the larger end of firms listed in London.
Shares in the firm have since ticked up over seven per cent on their IPO price after a rocky start as a standalone in which its value slumped well below its float price.
It is still trading well below the lofty £50bn price tag offered by rival Unilever in a widely criticised swoop last year.