Madrid, 9 Gen. (European Press) –
Shares of Grifols fell more than 30% around 9:35 a.m., after the company opened the stock market day marked by a volatile auction and without specifying a price, following the report published by Gotham City Research on Tuesday, in which they consider the Spanish company to be a “high “leveraging” and “manipulating declared debts.”
Grifols shares fell by 30.56%, to 9.88 euros per share, as soon as its shares began trading on Tuesday, which pushed it lower at IBEX 35, after it became clear with the closing price on Monday, when it fell by 2.26%, to 14.24 euros per share. Involved.
In this sense, Gotham City Research warned yesterday, on the social network “X”, formerly Twitter, that the shares of the company whose report was scheduled to be published are listed in Spain, and that despite “the company’s maneuvers, they remind us” more of NMC Health. From Let's Gowex, we believe the shares are uninvestable, and will head to zero, just as Let's Gowex shares have done.”
Thus, before the opening of European stock exchanges, Gotham City Research asserted that Grifols shareholders, due to their minority holdings, owned shares in a loss-making entity that was “laden with debt.”
“We believe Grifols is manipulating reported debt and gross operating earnings (Ebitda) to artificially reduce leverage to 6x, while we believe it is closer to 10x-13x. If we are right, Grifols' equity is zero,” he explained in detail in the first hour. .
He also stressed that Grifols' “recently appointed CEO is being welcomed as a change of course, but he has been with the company since 2006 and was on the board when the suspicious transactions described in our report occurred.”
“It appears to us that he is in serious conflict and that he belongs to the Grifowl family in all but name,” the Gotham City Research Center said.
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