BlackRock, Capital Research and Jefferies Lend 170 Million Euros in Grifols Shares

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 4.3% stake in the capital of the blood products company, has sold 5,565,420 Grifols shares, 1.3%, for almost 46 million euros, while Capital Research and Management Company, a subsidiary fund of Capital Group, has lent 9.9 million shares, valued at 81.1 million euros.

Read more on the subject and find the latest financial news from around the world with our companion app Born2Invest.

Besides BlackRock, Jefferies gains a stake of more than 3% in Grifols

Jefferies Financial Group, the latest firm to gain a stake in the Catalan company, has lent 5,823,938 shares, whose value amounts to 47.7 million euros , which represents 1.3% of the total 3% position that has emerged.

These entities have not indicated in the information sent to the CNMV 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, thus, when the price of a security falls .

In this way, Grifols rose 0.56% on the stock market around 11:10 a.m. this Wednesday, with its shares trading at a price of 8.1 euros.

JP Morgan chase surfaced a 5.1% stake in Grifols

In total, Jefferies Financial Group owns more than 12.8 million shares of the Catalan company, which at current market prices have a value of more than one hundred million euros. Thus, Jefferies holds the total of this 3% through a financial swap or swap and a right to recover borrowed shares – tripartite, distributed between 1.6% (7,013,242 shares) and 1.3% (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 4.5% , being distributed, as a novelty, between 2.2% of voting rights attributed to shares and 2.3% 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 2.3% 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 5.1% stake in Grifols, which distributes between 1.5% of voting rights attributed to the shares and 3.6% through financial instruments, valued, in total, around 177.8 million euros .

Short positions in Grifols

The Qube fund increased its position on the blood derivatives firm this Monday from 1.4% to 1.5%, remaining the main bearish firm in Grifols’ capital. For its part, the bearish fund Millenium reduced its short position on Grifols last Friday, March 8th, after the company published Kpmg’s approval of the accounts it had previously presented, on February 29th.

Thus, the fund’s bearish position stood at 0.5%, from 0.6% previously. Since October and, especially, in the first quarter of 2024, this entity has been operating with a lot of short activity on Grifols.

Last Thursday, March 7th, the Marshall Wace fund decided to increase its bet against the price of Grifols shares from 0.5% to 0.6%. 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.

__

(Featured image by Adeolu Eletu via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in PlantaDoce. A third-party contributor translated and adapted the articles from the originals. In case of discrepancy, the originals will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us