Consumer goods arm of GSK set to hit stock market

Consumer goods arm of pharma giant GlaxoSmithKline set to hit stock market in London’s biggest listing in a decade

The consumer goods arm of pharmaceuticals giant GlaxoSmithKline is set to hit the stock market today in London’s biggest listing in a decade. 

Haleon, which owns brands such as Sensodyne toothpaste and Panadol painkillers, is spinning out of GSK to become a standalone business. 

It is expected to list with a market cap of £35billion, making it the largest float on the London Stock Exchange for ten years. 

But traders will be watching closely for how its shares fare in the coming days, as investors try to navigate the current economic turmoil with caution. 

GSK is shifting £10billion of debt onto Haleon, which could cause concern among some investors.