Schroder Salomon Smith Barney has launched a £1bn (€1.6bn) accelerated bookbuilding in GlaxoSmithKline, the UK pharmaceutical company, in its third deal in three days.
SSSB is the sole bookrunner of the accelerated deal. The GlaxoSmithKline shares are being sold by the Wellcome Trust, a charitable institution which "has decided to undertake a programme of rebalancing its investment portfolio and to re-invest the sale proceeds in a more diverse spread of equities and other investments."
