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| Name | Symbol | Market | Type |
|---|---|---|---|
| GSK plc | NYSE:GSK | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.23 | 0.53% | 43.58 | 43.68 | 43.27 | 43.58 | 4,048,068 | 01:00:00 |
From May 2019 to May 2024
By Razak Musah Baba
LONDON--GlaxoSmithKline PLC (GSK.LN) plans to sell its remaining 6.2% stake in Aspen Pharmacare Holdings Ltd. (APN.JO), a South Africa-based pharmaceutical company.
GlaxoSmithKline, which has been an Aspen shareholder for seven years, said Wednesday it intends to offer up to 28.2 million Aspen shares to institutional investors at an offer price which would be determined via an accelerated book build process.
The proceeds from the transaction will be used for general corporate purposes, the company said.
GlaxoSmithKline said it has entered into a placing agreement with Citigroup Global Markets Ltd., and UBS Ltd., to act as joint book runners in relation to the offering.
In March last year, GlaxoSmithKline halved its stake in Aspen and raised gross proceeds of 574 million pounds ($745.1 million).
Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet
(END) Dow Jones Newswires
September 28, 2016 12:10 ET (16:10 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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