JPMorgan has entered the capital of the Spanish pharmaceutical company with a 5.185% stake – some €250 million – and has become the company’s most important shareholder after the founding family. The descendants of the group’s founders hold 31% of the capital from four different holdings, controlled by the different branches of the family.
According to the records of the National Securities Market Commission (CNMV), the investment bank has acquired 6.6 million voting rights attributed to shares indirectly, which corresponds to 1.55% of the company’s capital, in addition to the acquisition of 3.63% through financial instruments.
JP Morgan’s entry comes at the company’s lowest moments and in the midst of a stock market crisis, after Gotham City Research has been questioning its accounting for two months and its annual results disappointed investors.
Before the unqualified audit report signed by KPMG was presented, the company’s shares reached a low of just over €6.50. With the audit published and without any reproach from the consultancy firm, Grifols shares rose by up to 20% on Friday 8 March. Yesterday, Monday, the group maintained the upward trend, closing at €8.48 per share.
