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Thursday, January 17, 2013

IPO could value Pfizer's Zoetis at up to $12.5 bln, (NYSE: PFE)

Pfizer Inc's unit Zoetis Inc plans to sell 86.1 million shares at between $22 and $25 each in an initial public offering that could value the animal health business at as much as $12.5 billion.At the top-end of the expected range, the offering would raise about $2.2 billion.The Wall Street Journal reported last month that the Zoetis IPO was likely by January or February, and that it could raise about $4 billion.Pfizer said in June last year that it planned to separate its animal-health unit, which sells medicines, vaccines and other products for livestock and pets, into a standalone company.

Pfizer Inc. (Pfizer) is a research-based, global biopharmaceutical company. Shares of PFE traded higher by 0.83% or $0.22/share to $26.83. In the past year, the shares have traded as low as $20.75 and as high as $26.88. On average, 30618100 shares of PFE exchange hands on a given day and today's volume is recorded at 37122468.