Pfizer, top pharma company announced that its subsidiary, Zoetis filed a registration statement with the U.S. Securities and Exchange Commission for a potential initial public offering (IPO) of Class A common stock in a financing undertaking.
The financing offering is expected to represent an ownership stake of up to 20 percent.
Prior to completion of the financing offering, which is targeted for the first half of 2013, Pfizer will transfer its animal health business to Zoetis.
J.P. Morgan, BofA Merrill Lynch and Morgan Stanley will act as the joint book-running managers for the proposed IPO.
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