Grifols soars more than 10%, with its shares at 9 euros and the bears raising positions

MADRID, 11 Mar.

Grifols soars more than 10%, with its shares at 9 euros and the bears raising positions


Grifols shares soared more than 10% this Monday on the stock market around 9:15 a.m., in a context marked by bearish investors, who increase their positions in the blood products firm, and the publication of its annual accounts, already audited by KPMG.

Grifols led the rise of the Ibex 35 with a rise of 10.24% and marked by a volatility auction, until exchanging its shares at a price of 9.15 euros, after opening the trading day with a rise of 4.58% and their titles at 8.68 euros.

KPMG gave the green light to Grifols' 2023 annual results last Friday, given that it showed its opinion, "without qualifications", and explained that the annual accounts expressed, "in all significant aspects, a true image of the company's assets and financial situation of the group".

Grifols' auditor also recalled that as of the date of issuance of her report to the National Securities Market Commission (CNMV), she has not yet expressed her conclusion on the information sent to the supervisor by the Catalan group and stated that her opinion "was not modified in relation to this issue" that arose following information published by Gotham City Research.

On a purely financial level, the blood products firm decided to further detail the pre-existing agreement with ImmunoTek, aligning the accounting treatment with the essence of the contract, which was last modified in June 2023.

Thus, company sources explained to Europa Press that this integration does not affect the profit and loss account nor does it have a "material impact" on key metrics, including the leverage ratio, which stands at 6.3 times, nor on the statement of cash flows, where it shows a positive impact of 4 million euros.

Specifically, Grifols' total assets, including ImmunoTek and already with the audited accounts, reach 21,441 million euros, compared to the 21,326 million euros that were reported in the accounts of February 29, which shows a difference of 115 million, of which 96 million euros correspond to non-current assets.

According to CNMV records, the investment fund co-owned by Paul Marshall, promoter of the populist and right-wing British television channel GB News, maintains at 0.61% the position that it opened on March 6 with a 0. .51%.

The Marshall Wace fund, founded by Paul Marshall and Ian Wace and in which KKR has a stake of almost 40%, thus has a short position on Grifols of 0.61%. It is the first time that this firm operates against the rise in Grifols' price.

For its part, Ako Capital informed the CNMV in the middle of last week that it reduced its short position on Grifols from 0.59% to 0.43%. This fund has been shorting Grifols since April 2023.

For its part, Qube's short position began last week with an increase to 1.57% and was reduced to 1.47% on March 7, while Millenium's short position has not been updated since March 4 March and remains at 0.62%.