GSK completes Haleon demerger and share consolidation
GSK plc has completed the demerger of its consumer healthcare business, which now forms the Haleon Group. The company also executed a share consolidation.
GSK plc announced on July 18, 2022, that it has finalized the demerger of its consumer healthcare division, establishing the Haleon Group. Haleon's shares were admitted to trading on the London Stock Exchange on the same day, with trading on the New York Stock Exchange expected to commence on July 22.
Alongside the demerger, GSK also completed a consolidation of its existing shares. This share consolidation became effective after market close on July 18. Trading in the new GSK shares began on the London Stock Exchange on July 19.
The company stated that the ratio for the share consolidation will depend on fluctuations in GSK's share price and volume until the consolidation takes effect. The final number of new shares will be determined accordingly.
Following the demerger, GSK will concentrate its efforts on biopharmaceuticals, including vaccines and specialty medicines, while Haleon will manage the consumer healthcare products.