by Natalie Grover and Lucy Raitano
LONDON, July 18 (Reuters) – Consumer healthcare company Haleon, spun off from Britain’s GSK, floated on the London Stock Exchange on Monday in Europe’s biggest IPO in more than a decade. year.
Haleon – which owns Sensodyne toothpaste, Advil painkiller and Nicorette tobacco addiction treatment products – opened at 330 pence, reaching a market capitalization of around £30.5 billion (36 billion euros).
GSK, whose action takes 0.50%, is now refocusing on its activities of prescription drugs and the production of vaccines.
After raking in nearly £9.6 billion in 2021, Haleon is expected to post revenue of £10.7 billion this year, according to Barclays analysts.
In June, GSK forecast Haleon’s annual organic sales growth of 4% to 6% over the next three to five years, an estimate that beat some analysts’ expectations.
But the company enters the stock market with more than £10 billion in debt.
Pfizer, which owns a 32% stake in Haleon, has announced that it intends to gradually sell its shares.
(Reporting Natalie Grover and Lucy Raitano in London; with Richa Naidu, French version Laetitia Volga, editing by Kate Entringer)
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