Biggest European listing in a decade set for London

Haleon demerger from GSK valued at £45bn

The largest listing on the London Stock Exchange is set to go ahead next week as GlaxoSmithKline investors voted to demerge its newly-created consumer healthcare unit Haleon.

The vote to demerge passed overwhelmingly on Wednesday (13 July), with 99.8% voting in favour of the break-up. Next Monday (18 July), the UK's pharmaceutical giant will part ways and Haelon will stand alone as its own stock. It is expected to seek a valuation of around £45bn, making it not only the biggest UK listing in a decade, but the largest in Europe. SIF 2022: The Edit day two Despite the overwhelming support from shareholders at the vote, GSK's share price has dropped slightly since the vote on Wednesday, down 0.9%, according to data from FE fundinfo. The new shares will ...