You have 10 days to respond to the information requirements of the CNMV


Grifols shares closed this Thursday’s session with a decrease of 16.17%, reaching a price of 9.904 euros, after failing to convince analysts with their explanations in an attempt to dismantle Gotham City Research’s accusations in their report. .

The explanations given by the CEO of the Catalan company, Thomas Glanzmann, and by other executives of the firm, including Raimon Grifols Roura and VĂ­ctor Grifols Deu, far from calming the markets, have caused a new collapse in the company’s shares. pharmaceutical company, who have led the losses of the Madrid selective throughout the day.

Specifically, the company’s shares began the session with falls of 1.78%, which they reported as the day progressed, mainly once the investor conference ended, at which time they fell up to 14% to finally close with a collapse of 16.17%.

In this way, after yesterday’s respite, in which they closed with an advance of 12% after the company’s announcement of taking legal action against Gotham City Research “for the significant damage caused, both financial and reputational”, the titles of Grifols have ended this Thursday’s session with a price of less than ten euros.

In the conference before investors, the CEO of Grifols, Thomas Glanzmann, confirmed that the company is working to respond to the information requirements sent to them on Wednesday by the National Securities Market Commission (CNMV) in relation to the report. from Gotham City Research, for which he has a period of ten days.

In the request, the supervisor asks the company’s management team for detailed information on various aspects of its accounting, including Grifols’ links with the Scranton company.

Glanzmann explained that the company has ten days to respond and has assured that it will do so “ASAP” – for the acronym in English of ‘as soon as possible’ -.

During his speech, Glanzmann explained that Scranton “has proven to be a long-term investor in Grifols that has provided support for the international expansion” of the company.

It has denied that it is a Grifols family office and has indicated that of the 22 investors, three are members of the Grifols family and that they have less than 20% of the company.

Glanzmann has said that Grifols and Scranton have only carried out two operations, “which have been carried out on a long-term basis” and that no others are planned.

Specifically, regarding the purchase of Haema and BPC, he explained that in 2019 Grifols’ leverage level was “too high”, which is why Scranton carried out the operation and that all the information about the operation was made public at the time.

Asked about the possibility of Grifols exercising the purchase option for both companies, he assured that it is not part of the company’s plans at present.

The bearish fund published a report early Tuesday in which it accuses the pharmaceutical company of manipulating its debt ratios and gross operating profit (Ebitda) to artificially reduce leverage, for which it warns that its actions would be “not investable”.

After the publication of this report, the company’s shares fell by 42%, finally ending Tuesday’s session with a decline of 25.91%.