Gallardo family offload Almirall shares at deep discount

By Aidan Gregory
13 Nov 2019

Grupo Corporativo Landon, a vehicle for the Gallardo family, has sold €167m of shares in Almirall, the Spanish pharmaceuticals company, to increase the free float of the stock on Spain’s stock exchanges.

In a regulatory filing, Almirall said Grupo Corporativo Landon has sold 11m shares, a 6.3% stake. The trade was priced at €15.25, a discount of 10.2% to Almirall’s closing price on Tuesday.

JP Morgan led the sale as sole bookrunner.

The transaction was intended to boost the ...

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