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Europacific Growth lowers the borrowed shares of Grifols to 88 million euros in the midst of an attack by bears

Grifols leads the rise of the Ibex 35 with an increase of 3.

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Europacific Growth lowers the borrowed shares of Grifols to 88 million euros in the midst of an attack by bears

Grifols leads the rise of the Ibex 35 with an increase of 3.37% around 11:00 a.m.

MADRID, 19 Mar. (EUROPA PRESS) -

Europacific Growth Fund, legal owner of Grifols shares, has reduced by almost two million shares the total package of Grifols shares that to date it had lent to third parties, placing the total amount at 11.32 million, valued at 87. 6 million euros, according to the documentation that appears in the National Securities Market Commission (CNMV).

Specifically, Europacific Growth Fund has reduced its voting rights through financial instruments - 'rights to withdraw borrowed ordinary shares' - from 3.079% to 2.656% in the blood derivatives firm, which took it from 13, 12 million shares (101.54 million euros) to 11.32 million titles (87.6 million euros).

In fact, the legal owner of Grifols shares has increased its voting rights attributed to the blood products firm's securities from 0.148% (631,807 shares) to 0.571% (2,431,807 shares), which are valued at 18.57 millions.

All in all, Europacific Growth Fund maintains its participation in Grifols' capital at 3.227%, which represents a total package of 13,751,807 shares and a valuation of more than 106 million euros.

According to the information sent to the supervisor, EuroPacific Growth Fund "is the legal owner of Grifols shares, and has granted proxy voting authority to Capital Research and Management Company, its investment advisor."

Thus, Capital Research and Management Company has increased its participation in Grifols from 4.507% to 4.555%, being divided between 1.899% (8,092,817 shares) of voting rights attributed to the shares and 2.656% (11,320,000 shares) through financial instruments, specifically, 'rights to withdraw borrowed ordinary shares'.

In this context, Capital Research has a total shareholding package of 19.4 million shares, valued at more than 150 million euros.

These entities have not indicated in the information sent to the supervisor to whom they have lent these shares or for what purpose. The operation of a bearish investor who trades shorts implies that he has to borrow shares from a third party to sell them in the markets and then buy them back and return them to their original owner. The profit is obtained when the price of a security falls.

This operation occurred one day after BNP Paribas raised a 3.015% stake in Grifols' share capital, which amounts to a share package of more than 13 million shares, valued at more than 100 million euros based on the current market prices.

Thus, Grifols led the rise of the Ibex 35 this Tuesday around 11:00 a.m., with an increase of 3.37%, until its shares were exchanged at a unit price of 7.740 euros.

This Monday, the Qube fund reduced its position on the blood derivatives firm from 1.66% to 0.96%, remaining the main bearish firm in Grifols' capital.

For its part, Ako Capital increased its short position on the Catalan company last Friday, March 15, to 0.51%, while the bearish Millenium fund still maintains it at 0.52%, from 0. 62% previous. Since October and, especially, in the first quarter of 2024, this entity has been operating with a lot of short Grifols activity.

Furthermore, on March 7, the Marshall Wace fund decided to increase its bet against the price of Grifols shares from 0.51% to 0.61%. This fund is co-owned by tycoon Paul Marshall, promoter of the populist and right-wing British television network GB News. Along with Marshall, Ian Wace appears as a partner and the KKR fund is also present, with almost a 40% stake.

These notifications are occurring in a context marked by the wait for the analysis of the information required from the blood products company by the National Securities Market Commission (CNMV) after the crisis unleashed by the report published by Gotham City Research.

The president of the CNMV, Rodrigo Buenaventura, already announced more than a week ago that the analysis of the information required from Grifols following the Gotham City Research report "is very advanced."

He also explained that the supervisor's "number one" priority is to clarify the situation in relation to the financial information published by Grifols and the bearish fund report that "calls it into question."

Keywords:
GrifolsCNMV