Business
Proposed Secondary Global Offering by Pfizer Inc.
Proposed Secondary Global Offering by Pfizer Inc..
About this update from Haleon Plc
[{"type":"text","content":"\n\n\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY (IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \nFOR IMMEDIATE RELEASE\n \nHaleon plc: Proposed Secondary Global Offering by Pfizer Inc. in Haleon plc and Proposed Share Buyback\n \n18 March 2024: Haleon plc (\"Haleon\") (LSE/NYSE: HLN) announces that Pfizer Inc. (\"Pfizer\") intends to sell approximately 630 million Haleon ordinary shares (\"Ordinary Shares\"), including Ordinary Shares in the form of American Depositary Shares, each representing two Ordinary Shares (\"ADSs\", and together with the Ordinary Shares, the \"Securities\") by means of a public offering in the United States (the \"U.S. Offer\"), and a concurrent offering outside the United States to qualifying investors for purposes of, and in accordance with, applicable local laws and regulations in the jurisdictions in which such offer is being made (the \"International Offer\" and, together with the U.S. Offer, the \"Global Offer\").\n \nThe offering price per Security in the Global Offer will be determined by means of a bookbuilding process and is expected to be announced on or about 19 March 2024, following completion of the bookbuilding.\n \nPfizer will receive all of the net proceeds from the Global Offer, subject to customary closing conditions. No Securities are being sold or issued by Haleon and Haleon will not receive any of the net proceeds from the Global Offer.\n \nHaleon previously entered into a Share Purchase Deed with Pfizer which was approved by Haleon's shareholders at its Annual General Meeting on 20 April 2023 (the \"Share Purchase Deed\"), pursuant to which Haleon has the ability to make certain off-market purchases to acquire Ordinary Shares from Pfizer, subject to certain terms and conditions. In connection with the Global Offer and subject to satisfaction of the conditions set out in the Share Purchase Deed, Haleon has agreed to repurchase from Pfizer, and Pfizer has agreed to sell to Haleon, off-market, Ordinary Shares having an aggregate purchase price of approximately £315 million (approximately $400 million) at the same time as, or immediately following and on the same day as, ...