Viceroy stands by its report on Capitec, saying it needs investigating
Viceroy says ‘it’s ironic’ that Treasury takes Capitec’s stance, and calls the work of some of the analysts who backed Capitec ‘shoddy’
London — Short-seller Viceroy Research said National Treasury may have been too quick to jump to conclusions when it called for an international investigation into the group for its allegations against Capitec Bank. A Viceroy report on Tuesday said Capitec faced significant losses because it concealed impairments to its loan book, sending the bank’s shares tumbling — and profiting Viceroy. Treasury reacted by saying regulators should check whether Viceroy "transgressed any of their market conduct and market abuse laws that aim to protect investors." Now, Viceroy has responded to the criticism. "It’s ironic that they would prefer to take the company’s stance without checking if the information is accurate," Viceroy founder Fraser Perring said in a phone interview from New York on Friday. Perring repeated a call for SA’s authorities to investigate Capitec’s accounts, adding that Viceroy was maintaining its short position on the lender. On Thursday, Treasury said it has been in constan...
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