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Haleon - Proposed Secondary Global Offering by Pfizer - Updated

Updated: Mar 19

Haleon plc: Pricing and upsize of Secondary Global Offering by Pfizer in Haleon and Share Buyback


  • 790,554,820 shares at £3.08 per Ordinary Share and $7.85 per ADS

  • Pfizer's interest in Haleon, 32% -> 22.6%

  • ~$3B to Pfizer


Haleon plc: Proposed Secondary Global Offering by Pfizer Inc. in Haleon plc and Proposed Share Buyback


  • ~630mm shares

  • Pfizer's interest in Haleon, 32% -> 24%

  • 20% required for two board seats


Rough math shows this cleaning up the working capital situation in the near-term.. As anticipated for '24, telegraphed from the outset, yet important as it's finally happening.


br. -jb


p.s. Haleon annual report has details of various arrangements, .e.g. 20% for two seats, 10% for one seat, etc.:


$PFE .. $HLN.LN | $HLN

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