By Matteo Castia

 

GlaxoSmithKline PLC said Thursday that it has agreed to raise 254.8 billion Indian rupees ($3.38 billion) through the sale of 133.8 million shares in Hindustan Unilever Ltd.

The pharma giant said that the deal was made through its subsidiaries GlaxoSmithKline Pte. Ltd. and Horlicks Ltd., and that it will hold no shares in Hindustan Unilever after the transaction.

GlaxoSmithKline shares at 0725 GMT were up 7.6 pence, or 0.5%, at 1,704.6 pence.

 

Write to Matteo Castia at matteo.castia@dowjones.com

 

(END) Dow Jones Newswires

May 07, 2020 03:48 ET (07:48 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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