Grifols took a breather on the stock market yesterday after falling by 35% on Thursday after the results were presented and a rise of 18.35% was recorded. The company's shares rose as much as 20% at the opening of the session, exceeding nine euros per share, after a delay in pricing when entering the volatility auction. Yesterday, the company sought to stop the bleeding in the markets by sending up to three relevant facts in five hours, allowing the price to remain elevated throughout the session above 15%.
The group reported yesterday that due diligence by Haier ends with a “satisfactory” result, accelerating the sale of its subsidiary in China, a clarification regarding the $266 million payment to Scranton from the parent company, which raised doubts among analysts and an explanation of the cash flow that the company will record for the year 2024. .
The sale of Grifols' subsidiary Shangai Raas (SRAAS) in China to the Haier Group for $1.8 billion (about €1.628 billion) is a move that has been received very favorably by the market, as it will help reduce the huge debt of $9,000. million held by the group. The pharmaceutical company plans to use these amounts of $1,600 million, along with what it obtained from the sale of other businesses, to repay bonds due this year and facilitate a refinancing agreement with the bank.
Show results
Market doubts rose on Thursday after the 2023 results were presented. The company, which provided unaudited accounts, said it had “received written confirmation from KPMG that it expects to complete its internal procedures and issue its audit opinion before March 8, 2024, in action.” “Forward until the deadline for the current Spanish legislation.”
Jaime Costos, the current member of Grifols' board of directors, also did not sign the annual accounts published by Hemoderivats on Thursday, as he was absent for “personal reasons” from yesterday's board meeting in Barcelona. However, the company confirmed that Costos did not express “dissatisfaction with the documents sent.”
“Infuriatingly humble social media buff. Twitter advocate. Writer. Internet nerd.”
