Grifols revises past financial records with equity value drop of $494 mln
MADRID, July 30 (Reuters) -Spanish pharmaceutical company Grifols GRLS.MC said on Tuesday it had revised its financial records between 2020 and 2023 lower by 457 million euros ($494 million) to adjust the value of its stake in Chinese company Shanghai RAAS.
Spain's stock market regulator CNMV had earlier suspended trading in Grifols shares after Bloomberg first reported the revision, citing sources, on the day Grifols is due to report earnings. The shares were trading 1.9% down when the suspension took effect.
"Despite this correction resulting in a reduction of equity by 457 million euros, it has had no impact on the income statement; it represents an incorrect accounting treatment without affecting the correct results for each affected financial year," Grifols said in a statement.
($1 = 0.9251 euros)
Reporting by Inti Landauro, editing by Andrei Khalip
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