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  2. Share Prices
  3. Glaxosmithkline Share Price
  4. Glaxosmithkline Share News
  5. GSK to sell down Aspen Pharma stake

Pin to quick picksGlaxosmithkline Share News (GSK)

Glaxosmithkline Information

Share Price Information for Glaxosmithkline (GSK)

London Stock Exchange
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Share Price: 1,775.00
Bid: 1,771.00
Ask: 1,771.50
Change: -8.50 (-0.48%)
Spread: 0.50 (0.028%)
Open: 1,773.50
High: 1,779.00
Low: 1,764.50
Prev. Close: 1,783.50
GSK Live PriceLast checked at -

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GSK to sell down Aspen Pharma stake

Tue, 19th Nov 2013 15:31

GlaxoSmithKline has revealed plans to sell 450m pounds of shares in Africa's largest drug company, Aspen Pharmaceutical.GSK said it wanted to offload around a third of its 19% stake in Johannesburg-listed Aspen, which is currently valued at 122bn rand, equivalent to £7.5bn.The 6% of sold shares would be worth around £450m at the current price, with the offer price to be determined by means of an accelerated bookbuild process starting immediately by Citigroup and UBS, with GSK's retained 13% stake in Aspen worth almost £1bn. The FTSE 100 company said proceeds of the divestment will not be included in core operating profit and core EPS in 2013 and the cash will be used for general purposes.GSK said its close relationship with Aspen and current transactions between the companies will not be affected by this transaction, and that it would retain a seat on Aspen's board.David Redfern, GSK's Chief Strategy Officer, said: "GSK has a long and successful partnership with Aspen - and our investment in the company has grown in value significantly over time. Having assessed this investment we have now decided to realise some of this value without altering the basis of the partnership."Shares in GSK were up 1.2% to 1,634p at 15:35 on Tuesday.OH
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3 Jan 2024 17:48

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(Sharecast News) - London stocks closed lower on Wednesday - the 40th anniversary of the FTSE 100's launch - as sentiment remained cautious due to increasing tensions in the Middle East.

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Jefferies upgrades GSK to 'buy', cuts AstraZeneca to 'hold'

(Sharecast News) - Jefferies has upgraded its rating on GlaxoSmithKline to 'buy' and cut AstraZeneca to 'hold' as part of its review of the European pharma sector.

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(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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