GSK’s $52.5b spinoff sinks in market debut
Swetha Gopinath and James Paton
GSK spinoff Haleon slipped in its London trading debut as market turmoil and inflation concerns weighed on Britain’s newest consumer goods giant.
The maker of Panadol painkillers and Sensodyne toothpaste opened at 330 pence on Monday, valuing the business at around £30 billion ($52.5 billion). The stock traded as high as 337.40 early in the day, before giving up the gains and closing 6.6 per cent lower.
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