MADRID, June 29 (EUROPA PRESS) –
Grifols’ shares plunged after 11:30 a.m. ahead of a potential nearly €2,000 million capital raise aimed at reducing debt by more than 11%.
Notably, shares of the company this Wednesday, with a rise of 1.17%, started to lead the gains of the Ibex 35 and later reversed the trend and fell 11.66% at 11:35 a.m., priced at €17.12.
As “El Confidencial” reported this Wednesday, citing various market sources, the Catalan pharmaceutical company, founded and controlled by the Grifols family and supported by its director and court adviser Tomás Dagá, is negotiating a capital increase of up to 2,000 million euros Fund euros, which is almost 20% of the company, to pay off the debt of 6,500 million that has been dragging on since last year.
The operation was activated after the Hellman & Friedman fund broke, and the firm would investigate several investment banks when the operation is well advanced.
In this way, this information has provoked the company’s stock market reaction, and Grifols positions itself as the company that loses the most in the selection of Madrid after 11:30 am.
From the Sabadell analysis direction, they have highlighted that it is “negative and unexpected” news.
He believes the expansion would reduce net debt to Ebitda by about 3.6 times, but with “significant” dilution.
“Taking into account the beginning recovery of the business, the lack of agreements regarding its debt and the relevant maturities until 2025, we did not expect a capital increase,” they have indicated from Sabadell.
Company sources consulted by Europa Press say they do not comment on market rumours.