Muddy Waters knocks more than 35% off NMC Health
The short-seller has criticised UAE-based NMC’s financial statements saying its margins were ‘too good to be true’
17 December 2019 - 17:40
Bengaluru/Abu Dhabi — US short-selling firm Muddy Waters said on Tuesday it had acquired a short position in NMC Health, criticising the healthcare group’s financial statements and wiping more than a third off the value of the company’s share price.
The short-seller questioned the value of the London-listed firm’s assets and cash balance, as well as its reported profits and debts. Muddy Waters said in a research note that NMC’s asset purchase prices and capital expenditures were inflated...
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