Pfizer Plans To Sell About 630 Mln Haleon Shares

(RTTNews) - Haleon plc (HLN, HLN.L) said that Pfizer plans to sell about 630 million Haleon ordinary shares, including Ordinary Shares in the form of American Depositary Shares, each representing two Ordinary Shares by means of a public offering in the United States, and a concurrent offering outside the United States.

The company noted that offering price per Security in the Global Offer will be determined by means of a bookbuilding process and is expected to be announced on or about 19 March 2024, following completion of the bookbuilding.

Pfizer will receive all of the net proceeds from the Global Offer, subject to customary closing conditions. No Securities are being sold or issued by Haleon and Haleon will not receive any of the net proceeds from the Global Offer.

In connection with the Global Offer, Haleon has agreed to repurchase from Pfizer, and Pfizer has agreed to sell to Haleon, off-market, Ordinary Shares having an aggregate purchase price of approximately 315 million pounds or approximately $400 million at the same time as, or immediately following and on the same day as, the completion of the Global Offer.

Completion of the Global Offer and the Share Buyback is expected to reduce Pfizer's interest in Haleon from 32% to approximately 24% of Haleon's issued Ordinary Share capital.