Today GSK spun off their consumer health business, under new LSE listing (Haleon).
When will shareholders receive their shares?
The stock is already trading but hasnt been added to T212.
1 Like
Hi. I just received mine in the last hour 
2 Likes
Just received mine too, so Haleon floated today at 330p per share valued at Ā£30B whereas unilever offered Ā£50B which was turned down am i getting this right?
1 Like
So same issue that there was with Shell in the consolidation. The price of the Haleon shares is 0, so everything shows as a gain, and buying any more shares of Haleon gives a totally inaccurate āaverageā price. There has to be a better way of recording this on T212 surely?
2 Likes
That was my understanding yes. Iām not sure why they didnāt sell it to Unilever eitherā¦ 
Yes but I believe Haleon took on Ā£10bn of debt, so the EV would be around Ā£40bn, but still a significant amount less than the Ā£50bn Unilever offered. Time will tell what Haleon is worth but as a Unilever shareholder I am glad this didnt go ahead (although the ability to buy the dip in Ā£33-34 region was welcome :D)
Did they ever do anything about the average price for Shell? Itās going to do my head in seeing an average price of Ā£0 for these Haleon ones. Other brokers have attributed a cost to them so why canāt we have that same treatmentā¦
unfortunately or fortunately for me Iāve got both Unilever and GSK so in addition to the HLN allocation i got, i opened a small position on HLN at 299pā time will tell i suppose
Hi. No, Iāve not bought any more Shell and Iām still showing a 100% return, i.e. all of my investment is green and āaverageā is $0. The same happened for the Warner Bros Discovery spin-off/de-merger from AT&T - totally artificial āaverageā of $0 for WBDā¦ I assume that when/if Kellogg also splits into three separate entities, my averages will also be $0 for the spin-offs. I shouldnāt have to keep a separate spreadsheet to work it out, but unfortunately I have too otherwise good luck knowing what is up or downā¦ 
Annoying that the app then becomes wholly inaccurate for total return then isnāt it.
Were we also not supposed to have had our fractional GSK shares removed and sold during this consolidation? Iām sure thatās what the last RNS about it said.
1 Like
Hello everyone,
We acknowledge that it was not the ideal visual representation of the event, but given its particulars and the technical limitations of our system, there was no other way for us to process it.
We aim to improve that for future events. Weāll keep you posted.
2 Likes
Thanks Michael. Much appreciate you responding to this and hopefully a solution can be found for future events such as this. Wouldnāt it be possible for the likes of Haleon particularly which is a totally new company, to set the original shares awarded value at the āgo-liveā price - that would at least be something to compare against, not sure that would work? The ability to add a ānoteā to the position so we can at least note the āaverageā somewhere in the platform would be appreciate too.
Cheers
@adamski Thank you for the suggestion - weāll look into implementing some improvements on that front. 
1 Like
Even using the āgo liveā price would probably not be accurate.
It would need to be more precise than that as really we āacquiredā Haleon shares at 20% of whatever our GSK average was at the time of the split.
1 Like
True, the āgo-liveā might be easier for the system to work out, not sure. Yes, a percentage of the GSK average at time of split would be another way - and more accurate I agree. Things for the team to think about, as the current way just doesnāt work at all.