GLAXO NIGERIA

Finweek English Edition - - INVESTMENT -

Pru­den­tial Fund Man­agers be­lieves t his counter to be un­der­val­ued de­spite an of­fer to mi­norit i es f rom par­ent group GSK. Ross Biggs, port­fo­lio man­ager at Pru­den­tial wrote in a note to clients: “Although we are grate­ful to have GSK Plc as a fel­low share­holder – we couldn’t think of a bet­ter part­ner in the con­sumer health busi­ness – we would pre­fer to own more of the busi­ness than less. We there­fore be­lieve that a part­ner­ship that more closely re­sem­bles t he cur­rent 50/50 part­ner­ship than the pro­posed 80/20 part­ner­ship is more eq­ui­table. High qual­ity, ac­ces­si­ble and in­vestable listed com­pa­nies in Africa are al­ready scarce. As long-term i nvestors, we want to en­sure that this list con­tin­ues to grow, not shrink.”

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