Glaxo sells stake in South Africa’s Aspen for $619m

London: GlaxoSmithKline Plc, the UK’s biggest drugmaker, disposed of the final portion of its stake in Aspen Pharmacare Holdings Ltd. for about $619 million (Dh2.27 billion), less than a month after selling the South African company a portfolio of anaesthetic medicines. Glaxo sold 28.2 million shares, equal to 6.2 per cent of Aspen’s ordinary share capital, to institutional investors for 300 rand (Dh80) each or 8.47 billion rand ($619 million), according to a statement on Thursday. That was a 5 per cent discount to Aspen’s closing price in Johannesburg on Wednesday of 316.87 rand. (Bloomberg)