The controversy over the acquisition of GSK Nigeria Plc by its parent company, GSK UK through a special arrangement has been put to rest as an option has been given to it to buy the shares of the company through the secondary market of the Nigerian Stock Exchange, NSE.

Chairman of GSK Nigeria, Chief Olusegun Osunkeye, disclosed to Vanguard during a chart in Lagos, saying, “following the suspension of the initial scheme of acquisition by GSK UK  to increase its stake in Nigeria, the foreign partner can now increase its stake in Nigeria by going through the floor of the NSE just like other investors interested in increasing their stakes in the company.”

Glaxo Smithkline UK, said it wanted to support its Nigeria arm to improve its facility, but it added that in order to do this on a continuous basis it (GSK UK) would like to increase its shareholding in (GSK) Nigeria from 46.4 per cent to 80 per cent.  But the price to exit became an issue as Nigerian shareholders insisted that the current price at the stock market be prevailed rather the initial proposed price of N48.

Are we now going to see a major rally in the share price?

– Source Vanguard


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