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Pfizer Inc. Message Board

  • cyoung8404 cyoung8404 Jan 22, 2013 8:46 AM Flag

    Zoetis IPO

    I currently own some PFE shares, and I have a question about the IPO of the animal health division. Has PFE stated how they will deal with current shareholders when they sell shares to Zoetis? Will current shareholders receive Zoetis shares in proportion to their PFE holdings? I have also read where the company may allow a shareholder to swap PFE shares for the new Zoetis shares. Has the company come out with any specifics, or is this all speculation? Thanks for any and all serious responses.

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    • PFE will offer 20% of Zoetis at about $22 per share, with trading to begin on February 1. PFE shareholders will receive no shares in ZTS immediately, but a full spin-off to shareholders of the remaining 80% PFE owns may occur in the future. Meanwhile, PFE shareholders will benefit from the approximately $2B in cash raised by the IPO and any appreciation in ZTS's shares.

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