GE HealthCare: GE Aerospace withdraws from share capital

(CercleFinance.com) - GE HealthCare Technologies shares fell on the New York Stock Exchange on Friday, after announcing that its historical shareholder would withdraw from its capital.


A little over an hour after opening, shares in the American manufacturer of medical imaging equipment were down around 0.6%. For its part, the S&P index of US healthcare stocks gained 0.7%.

In a financial notice issued last evening, GE HealthCare indicated that GE Aerospace, the former General Electric from which the group was spun off two years ago, planned to sell its 13.28 million shares, equivalent to almost 3% of the capital.

At current price levels, this transaction would be worth some $1.17 billion.

In the document submitted to the SEC, GE HealthCare explains that GE Aerospace intends to use the proceeds of the transaction to repay debt held by Morgan Stanley, which will then place the securities on the market until next Tuesday.

The sale comes at a time when GE HealthCare, which is due to go public at the end of 2022, has since seen its market capitalization rise by 46%, and is now valued at over $40 billion.

At the same time, GE Aerospace shares rose by 2.6%.

Copyright (c) 2024 CercleFinance.com. All rights reserved.