GSK publishes prospectus for Haleon consumer health spin-off
GSK has released the formal prospectus and circular detailing the planned separation of its consumer healthcare business into the independent entity Haleon.
GSK has moved forward with its corporate restructuring by publishing the necessary prospectus and circular for the demerger of its consumer healthcare division. The move, which will create a separate publicly traded company called Haleon, remains subject to final shareholder and regulatory approvals.
The company has scheduled a general meeting for July 6, 2022, to secure shareholder consent for the separation, which involves the consolidation of GSK shares and specific related party transactions. If approved, Haleon is expected to begin trading on the London Stock Exchange on July 18, 2022.
In addition to the primary listing in London, GSK intends to apply for a listing of American Depositary Shares on the New York Stock Exchange. This spin-off marks a significant strategic pivot for GSK, allowing the remaining entity to focus exclusively on biopharmaceutical research and development while Haleon operates as a dedicated consumer health firm.