GSK shares fall 19.16% to 1389.8p on massive £30.5b spinoff of Haleon
Pharmaceutial giant GSK spun off its consumer health division Haleon in the largest London listing in a decade. Haleon is now the world's largest consumer health business, owning familiar brands such as Sensodyne, Aquafresh, Advil, and Panadol. GSK shed Haleon in order to place a greater focus on drug and vaccine development.
Haleon shares finished down ~3% from their opening price, but GSK shares fell 19.16%. Haleon's current valuation is significantly below the £50b Unilever had offered to pay for it in January, an offer GSK rejected for being too low. Pfizer retains 32% of Haleon, GSK owns 13.5%, and the rest is held by GSK shareholders.
Aston Martin shares jump 32.55% to 608.8p on continued excitement over £650m capital raise.
Aston Martin announced on Friday that it would raise £653m via a discounted share placing and use the proceeds to "meaningfully deleverage the balance sheet, strengthen and accelerate its long-term growth." Saudi sovereign fund PIF will be issued 23.3m new shares at 335p, representing a 9.8% discount, for a total of £78m. PIF will also take part in a subsequent £575m rights issue. Together, PIF, the Yew Tree Consortium, and Mercedes-Benz AG will invest c. £335m.
AML Shares rose 23.70% on the day of the announcement and a further 32.55% today.
Vast Resources shares rise 20% to 0.75p on broader mining and energy rally
Vast Resources shares gained alongside other miners e.g. Antofagasta, Glencore, and Rio Tinto on a large mining and energy rally today, in turn fueled by a rally in oil and metal prices.
Vast Resources' most recent announcement confirmed to investors that its Takob processing plant was in the final stages of refurbishment, with all major equipment on site, ahead of planned commissioning at the end of July. Vast will receive a 12.25% royalty over all sales from the project.
Pineapple Power Corp shares fall 20.59% to 3.38p on capital raise via discounted shares
Pineapple Power Corp said it had raised £358K via an equity issue. The Company issued 11.9m new shares at 3p each, a significant discount to yesterday's closing price of 4.26p. Pineapple Power Corp said the proceeds would primarily be used to offset legal and due diligence costs associated with any future reverse takeover transaction.