Thu Mar 12, 2015/Reuters

GlaxoSmithKline has launched a $890 million share sale in South African drug company Aspen Pharmacare, a source familiar with the matter said on Thursday.

GSK said earlier on Thursday that it had launched the sale of around half its holding in the company. A price range of 365-385 rand per share has been set for the placement, representing a discount of 5.3-10.2 percent to the closing price.

The share sale is being run by Citi and UBS.