Grifols Deepens Its Crisis: Millenium Opens a Short Position on the Company

New episode in the Grifols case. The Millenium International Management fund has decided to reopen a short position on the Catalan pharmaceutical company equivalent to 0.53% of its capital, after several days in which the value has been affected by the volatility caused by the report from the also bearish Gotham CityResearch.

Specifically, according to the records of the National Securities Market Commission (CNMV), Millenium opened its position on Grifols yesterday. At the closing price, yesterday Tuesday, the 2.26 million shares that confirm the short position would be valued at 20.3 million euros , according to the theoretical calculation carried out by Europa Press .

In addition to not being able to know the average price at which the fund has built its position, the possible profit will also be affected by the average purchase price of the shares, the possible cost of leverage and the consideration offered to holders from whom they have been taken. lent these shares. Millenium has operated for much of 2023 with Grifols through short operations.

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Grifols asked the CNMV to advance the publication of the 2023 results

Although it is not possible to know the origin of the shares that Millenium has borrowed for this operation, last week it came to light that Capital Group, Grifols’ fifth largest shareholder, had decided to lend some two million shares of its participation, which were equivalent at 0.47% of the capital. The fund did not indicate to whom it had lent those shares or for what purpose.

On January 16th, it was also announced that the Catalan company had asked the National Securities Market Commission (Cnmv) to advance the publication of the 2023 results to win the hand of the bears. However, although the regulatory body would welcome the initiative, it would want to wait for Grifols to provide it with all the information related to Scranton.

The presentation of the results was scheduled for the end of February, but the company wants to move forward so that the situation is not unsustainable for those dates. The company’s shares closed the session on Monday with a rise of 0.25%, after confirming that the Chinese company Haier Group Corporation would buy the 20% it owns in Shanghai Raas Blood Products. The operation, valued at 1.8 billion dollars, is scheduled for the first half of the year.

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

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