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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Gsk Plc | LSE:GSK | London | Ordinary Share | GB00BN7SWP63 | ORD 31 1/4P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 12.00 | 0.73% | 1,648.00 | 1,647.50 | 1,648.50 | 1,656.00 | 1,635.00 | 1,642.00 | 1,467,927 | 12:19:42 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Pharmaceutical Preparations | 30.33B | 4.93B | 1.1970 | 13.78 | 67.93B |
From Apr 2019 to Apr 2024
LONDON--GlaxoSmithKline PLC (GSK.LN) said Thursday it plans to sell about half of its 12.4% stake in South Africa's Aspen Pharmacare Holdings Ltd. (APN.JO) through a placing to investors.
The sale would earn Glaxo about 11.5 billion rand ($1 billion) based on Aspen's current market valuation.
Glaxo's Chief Executive Simon Dingemans said selling the shares in Aspen will give it more financial flexibility following a recent deal with Switzerland's Novartis AG (NVS) that involved selling businesses to each other and setting up a joint venture.
Glaxo took a stake of about 19% in Aspen in 2009 as part of a strategic relationship that included the two companies combining some commercial activities in Sub-Saharan Africa.
In November 2013 Glaxo sold 6.2% of Aspen to investors for ZAR7.1 billion, cutting its stake to the current 12.4%.
"We continue to believe in the strategy of Aspen and we remain committed to working together in the future," he added.
Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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