GlaxoSmithKline ZAR10.5 billion sale of shares in Aspen PharmaCare

Overview:

• UK based pharmaceutical giant GlaxoSmithKline (GSK) has sold part of its share in South African based drugmaker Aspen Pharmacare, the largest of its kind in Africa. 
• The group sold 28.2 million ordinary shares in the company at a price of ZAR372 per share, raising ZAR10.5 billion, amounting to half of GSK's 12.4% holding. 
• The shares were sold by means of an accelerated book build offering process, run by UBS and Citigroup. 

John Crabb - Journalist