GlaxoSmithKline to Raise INR254.8 Billion via Sale of Hindustan Unilever Stock
May 07 2020 - 4:03AM
Dow Jones News
By Matteo Castia
GlaxoSmithKline PLC said Thursday that it has agreed to raise
254.8 billion Indian rupees ($3.38 billion) through the sale of
133.8 million shares in Hindustan Unilever Ltd.
The pharma giant said that the deal was made through its
subsidiaries GlaxoSmithKline Pte. Ltd. and Horlicks Ltd., and that
it will hold no shares in Hindustan Unilever after the
transaction.
GlaxoSmithKline shares at 0725 GMT were up 7.6 pence, or 0.5%,
at 1,704.6 pence.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
May 07, 2020 03:48 ET (07:48 GMT)
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