Jefferies Financial raises 3% in the capital of the blood products firm
MADRID, 13 Mar. (EUROPA PRESS) –
The fund manager BlackRock, Capital Research and Management Company and Jefferies Financial Group have lent more than 170 million euros in Grifols shares, which amounts to a total amount of 21.3 million shares, according to the documentation contained in the National Securities Market Commission (CNMV).
Specifically, BlackRock, which has a 4.309% stake in the capital of the blood products company, has transferred 5,565,420 shares, 1.306%, of Grifols for almost 46 million euros, while Capital Research and Management Company, subsidiary fund of Capital Group, has lent 9.9 million shares, valued at 81.1 million euros.
Jefferies Financial Group, the latest firm to open a stake in the Catalan company, has lent 5,823,938 shares (47.7 million euros), which represents 1.367% of the total 3.013% position that has surfaced.
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.
Thus, Grifols rose 0.56% on the stock market around 11:10 a.m. this Wednesday, with its shares trading at a price of 8.194 euros.
In this context, the American investment bank Jefferies Financial Group has raised a stake of more than 3% in the capital of Grifols in two movements registered with the CNMV this Tuesday, which went from 3.026% to 3.013% on the same day, according to records consulted by Europa Press.
In total, the bank owns more than 12.8 million securities of the Catalan company, which at the current market price (about 8,194 euros) have a value of more than 100 million euros.
Thus, Jefferies Financial holds the total of this 3% through a financial swap or ‘swap’ and a ‘right to recover borrowed shares – tripartite’, distributed between 1.646% (7,013,242 shares) and 1.367% (5,823 .938 shares), respectively.
For its part, Capital Research and Management Company, a subsidiary fund of Capital Group, has reduced its participation in the blood products firm to 4.523%, being distributed, as a novelty, between 2.2% of voting rights attributed to the shares and 2,323% through financial instruments.
In this sense, the part corresponding to financial instruments responds to ‘rights to withdraw borrowed ordinary shares’, which add up to a total of 9.9 million titles of the hemoderivatives company, equivalent to 2.323% of its capital and around 81 million of euros.
These notifications have taken place in the midst of an attack by bearish investors, who are increasing their positions in the blood derivatives firm, such as the Qube fund, and in a context also marked by the purchase of securities by its executive directors and directors.
For its part, this Monday JP Morgan also revealed a 5.185% stake in Grifols, which distributes between 1.554% of voting rights attributed to the shares and 3.631% through financial instruments, valued, in total, at around 177.8 million euros.
This Monday, the Qube fund increased its position on the blood derivatives firm from 1.47% to 1.51%, remaining the main bearish firm in Grifols’ capital.
For its part, the bearish fund Millenium reduced its short position on Grifols last Friday, March 8, after the company published KPMG’s approval of the accounts it had previously presented, on February 29.
Thus, the fund’s bearish position stood at 0.52%, from 0.62% previously. Since October and, especially, in the first quarter of 2024, this entity has been operating with a lot of short Grifols activity.
Last Thursday, 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.
