NEW YORK, Jan. 14 (Xinhua) -- Pfizer Inc., the American multinational pharmaceutical and biotechnology corporation, is offering around 700 million shares in Haleon Plc, representing a roughly 7.7 percent stake in the maker of Sensodyne toothpaste, reported Bloomberg News on Tuesday.
This cuts Pfizer's stake to about 7.3 percent in the British consumer healthcare group, Reuters cited a bookrunner.
The deal could raise around 3.1 billion U.S. dollars for the seller, which is offering the shares through an accelerated placement with investors. Pfizer sold shares of Haleon in multiple deals last year.
Morgan Stanley and JPMorgan Chase & Co. are leading the sale.
"There will be no sale of any Ordinary Shares in the form of American depositary shares in Haleon," Pfizer noted. "The price per Sale Share will be determined by way of an accelerated book-building process to institutional investors. The book-building period will commence immediately following this announcement and may close at any time on short notice."
