MADRID, 29 Jun. (EUROPA PRESS) –
Grifols shares plummeted more than 11% after 11:30 a.m. before a possible capital increase of nearly 2,000 million euros with the aim of reducing debt.
Specifically, the company’s shares began this Wednesday’s session leading the increases in the Ibex 35, with a rise of 1.17%, and later reversed the trend, falling 11.66% at 11:35 a.m., with a price of 17.12 euros.
As reported this Wednesday by ‘El Confidencial’, citing different market sources, the Catalan pharmaceutical company, founded and controlled by the Grifols family and assisted by its director and court advisor, Tomás Dagá, is negotiating a capital increase of up to 2,000 million with various funds euros, the equivalent of almost 20% of the company, to reduce the debt of 6,500 million that has been dragging since last year.
The operation has been activated after breaking with the Hellman fund
In this way, this information has provoked the stock market reaction of the firm and Grifols is positioned as the company that loses the most in the Madrid selective after 11:30 am.
From the Sabadell analysis direction they have highlighted that it is “negative and unexpected” news.
In his opinion, the expansion would allow the ratio of net financial debt to Ebitda to be reduced to approximately 3.6 times, but with a “significant” dilutive impact.
“Taking into account the incipient recovery of the operation, the absence of covenants in its debt and relevant maturities until 2025, we did not expect a capital increase”, they have indicated from Sabadell.
Company sources consulted by Europa Press indicate that they do not comment on market rumours.
