Capital Group, main shareholder in Grifols, reduces stake from 3.406% to 2.902% in order to consider exit

Link Securities | Capital Group, historical shareholder of Grifols, faces its exit by placing its stake in the company’s capital below 3%, Expansión newspaper reported yesterday. On 7 February, as recorded in the records of the National Securities Market Commission (CNMV), Capital Group reduced its stake in GRF to 2.902%, from the 3.406% declared on 5 February. Of the 2.9% declared by the fund, 0.45% is also on loan to bearish investors, who take these shares to sell them in the hope of buying them back cheaper in the future. Market sources point out that, given Capital Group’s track record of exiting over the last year, it will most likely continue to unwind positions, unless the 27 February plan convinces it to retake positions.