Grifols Shares Rise on Potential Sale of Shanghai RAAS Stock for $1.5 Billion
By David Sachs
Shares in Grifols rose Wednesday after it said it is planning to reduce its shareholding in Shanghai RAAS Blood Products and that it expects to receive $1.5 billion from the move.
At 1010 GMT, shares in Grifols were up 8% to EUR11.96.
The Spanish pharmaceutical company said it has notified the Chinese pharmaceutical firm and that the matter is still in planning stages.
Grifols, which currently is the largest shareholder in Shanghai RAAS, said it will remain a significant shareholder in the Chinese company.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
June 14, 2023 06:29 ET (10:29 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
5 Things We Learned From the Q1 Earnings Season
-
After Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing
-
Going Into Earnings, Is Nvidia Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Arista Stock a Buy, a Sell, or Fairly Valued?
-
A Cheap Dividend Aristocrat to Buy Before It Bounces Back