GlaxoSmithKline has hired Citi, Goldman Sachs and Morgan Stanley as financial advisers on its ViiV Healthcare unit as the drugmaker explores a partial initial public offering (IPO) of its HIV medicines unit, sources familiar with the matter said. Britain's biggest drugmaker, which is due to release full-years results at 1200 GMT, failed to comment on the news on Wednesday.GSK first announced in October it was looking to float its fast-growing HIV drugs operation business as part of a plan to reshape its business, in what would be the drug industry's largest ever IPO.The British group has a stake of nearly 80 percent in ViiV Healthcare, with Pfizer and Shionogi holding the rest.The appointment of the three banks was first reported by Sky News.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 1.8% or $0.62/share to $35.04. In the past year, the shares have traded as low as $28.31 and as high as $39.19. On average, 10114400 shares of MS exchange hands on a given day and today's volume is recorded at 14545306.
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