As part of the deal, Sensodyne's maker, Haleon, agreed to buy back 44 million shares from Pfizer, its current largest shareholder, while 618 million shares will be sold to institutional investors.
The total sale amount represents 7.3% of the issued share capital of Haleon, which was formed from the merger of GSK and Pfizer's consumer healthcare divisions in 2019. It was spun off from the British drugmaker in 2022.
GSK, which originally owned about 13% of the company, sold its entire stake in May 2024.
According to data compiled by LSEG, following the sale of Pfizer to BlackRock Investment Management (UK) Ltd, the BlackRock unit will become Haleon's largest shareholder with a stake of more than 5%.
BofA Securities, Citigroup Global Markets Limited and Goldman Sachs International are acting as joint global coordinators, and Barclays and Deutsche Numis are joint bookrunners for the share sale.
Source: Reuters
