Pfizer (NYSE:PFE) has decided to raise $3 billion through a part-flotation of its animal health division.

Pfizer Plans $3bn Floatation

According to a Financial Times report, the US based drug maker giant Pfizer (NYSE:PFE) is weighing plans to raise about $3 billion this year through a part-flotation of its animal health division.

The company is in discussions with bankers over an initial public offering that would look to place up to 19.9 percent of the unit’s shares in the autumn.

Pfizer (NYSE:PFE) said that it is still evaluating all options for the division and is set to announce a decision in the coming months.

Pfizer Inc. (NYSE:PFE) stocks are currently standing at 21.19.

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Last Price: 21.19
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50 Day Moving Average: 21.4
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12 Month Price Change %: 9.4%