Grifols falls again by more than 15% in the stock market after the conference in which it tried to dismantle Gotham


The Minister of Economy, Commerce and Business, Carlos Body, has indicated that the Government hopes that once the information about Grifols has been analyzed by the National Securities Market Commission (CNMV), the supervisor “will act and make the appropriate decision.” “.

“From the Ministry, what we want to convey is a message of prudence and caution,” Corpus reiterated in an interview on RNE reported by Europa Press, recalling that the competent authority to verify any element related to listed companies is the CNMV.

In this sense, he has praised the work of the supervisor, stating that he is analyzing Grifols’ information, within the framework of his powers.

Asked if he distrusts the version of the Catalan company Grifols presented this Thursday in a conference with analysts, Corpus stated that he is in continuous contact with the institution “which has the powers to verify the information and which has to guarantee that all actions of listed companies are in accordance with the law and ensure, precisely, the proper functioning of our securities market.”

“We are in contact with the CNMV and we hope that they analyze this information, make decisions and open the actions they deem appropriate,” Corps concluded.

At the investor conference held this Thursday, 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 to the Gotham City Research report, for which it 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”.

The company’s shares, which closed on Tuesday with a decline of 25.91%, recovered 12% on Wednesday, to plummet again by more than 16% on Thursday, after failing to convince the market at the conference with analysts with their explanations to dismantle Gotham City Research’s accusations.

At 9:50 a.m. this Friday, Grifols shares fell more than 15%.