Pharmaceuticals group GlaxoSmithKline (GSK) has raised its stake in its Indian consumer healthcare subsidiary, i.e. Glaxosmithkline Consumer Healthcare by investing over half a billion pounds in the unit. In an effort to raise its exposure to a key emerging market, GSK, which first announced an open offer back in November, has now raised its stake in the Indian publicly-listed division from 43.2% to 72.5%.
During the offer period, which started January 17 and closed January 30, shareholders of GlaxoSmithKline Consumer Healthcare validly tendered 12.32 million shares, or 29.3% of the total shares outstanding.
