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Tag: GSK

NGX halts trading of delisted-GSK shares
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NGX halts trading of delisted-GSK shares

The Nigerian Exchange Limited has halted trading on Glaxo SmithKline Consumer Nigeria Plc’s shares in anticipation of its eventual delisting from the Exchange. The Times reported that this information was contained in the Exchange’s weekly report. The suspension came after the Securities and Exchange Commission approved the Glaxo SmithKline Consumer Nigeria Plc Scheme of Arrangement between the […]

NGX halts trading of delisted-GSK shares
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GSK gets SEC approval to delist from NGX

GlaxoSmithKline Consumer Nigeria Plc has announced that it has received formal Securities and Exchange Commission approval for its proposed scheme of arrangement. This will lead to minority investors getting a total cash payment of N17.42 per share for each share owned. GlaxoSmithKline UK, a prominent pharmaceutical company, announced its pullout from Nigeria in August after more […]

NGX halts trading of delisted-GSK shares
Business

GSK shareholders approve N17.42 for GSK buyback

Glaxo SmithKline Consumer Nigeria Plc’s minority shareholders have decided that, upon the company’s final delisting from the Nigerian Exchange Limited, their shares should be purchased at a rate of N17.42 per unit. The Punch reported that the shareholders of the court-ordered meeting between the parties to the Scheme of Arrangement approved the share buyback rate among […]

NGX halts trading of delisted-GSK shares
Business

GSK shareholders express concern over N1.274bn unclaimed dividends

GlaxoSmithKline Consumer Nigeria Plc’s unclaimed dividend of N1.274 billion has alarmed shareholders following the company’s delisting from the Nigerian Exchange Limited and termination of operations in the country. According to The Punch, after more than 50 years of operation, GSK declared in August that it would cease operations in Nigeria and switch to a distributor-led […]

NGX halts trading of delisted-GSK shares
Business

GSK, Zhifei sign £2.5bn deal for shingles vaccine in China

GSK has announced an agreement with China’s largest vaccine firm, Zhifei,  by revenue, to increase global sales of its shingles vaccine by 2026. According to the Financial Times, the UK-based pharmaceutical company said Zhifei had agreed to acquire £2.5 billion worth of GSK’s blockbuster shot, Shingrix, which is targeted at older individuals, over three years. If GSK’s […]

Equity market loses N92bn as stocks tumbles
Business

GSK, Dangote Sugar boosts stock market by 0.22%

The Nigerian Exchange Limited All-Share Index increased by 0.22 percent at the conclusion of the previous week due to gains in the stocks of Dangote Sugar Refinery Plc (25%) and Glaxo Smithkline Consumer Nigeria Plc (20.27%). The Punch reported that the market capitalization increased to N35.48 trillion from N35.4 trillion the previous week, giving investors a […]

Obi offers measures to prevent exit of multinational companies from Nigeria
Business

GSK: Nigeria’s poverty index getting worse, Peter Obi laments

The presidential candidate of the Labour Party in the 2023 election, Peter Obi, has expressed concern about GlaxoSmithKline’s impending departure from Nigeria after 51 years of operations. The Punch reported that this came after the business announced plans to stop producing vaccines and prescription drugs in the country. GlaxoSmithKline was incorporated in Nigeria in June 1971 and […]