GSK PLC on Friday said it received £885.6 million in gross proceeds from its sale of shares in consumer healthcare spin-off Haleon PLC.

The Brentford, UK-based pharmaceutical company sold 270 million Haleon shares as planned at a price of 328 pence each. Haleon shares had closed on Thursday in London up 1.1% at 340.07p. GSK shares closed down 0.2% at 1,479.60p.

GSK continues to hold 685 million Haleon shares, a 7.4% stake, down from 10% previously. It has been whittling down its stake since its demerger of Haleon a year ago. In May, GSK sold 240 million Haleon shares, a 2.5% stake.

GSK’s partner in the former consumer healthcare joint venture, Pfizer Inc, continues to own 32% of Haleon.

Weybridge, Surrey-based Haleon offers brands including Sensodyne toothpaste, Panadol and Advil painkillers and Centrum vitamins.

The latest share sale, announced after the London market close on Thursday, was run as an accelerated bookbuild by Bank of America Securities and Citigroup Global Markets Ltd as the joint global coordinators.

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