Grifols Aims to Raise Up to $5 Billion in IPO of US Unit

Grifols SA aims to raise as much as $5 billion in a potential US listing of its Los Angeles-based biopharma unit, an amount that would value the business at close to four times the size of its parent company, according to a person familiar with the matter.

The Spanish maker of plasma-derived drugs plans to sell as much as 20% of the division, its main source of revenue, in an initial public offering on Nasdaq, the person said, asking not to be named because the information isn’t public.