Aspen pares decline amid rumours of a report by short-seller Viceroy
Aspen Pharmacare Holdings pared the biggest decline in two months in Johannesburg trading as speculation eased about the drug maker about to be the subject of a report by short-seller Viceroy Research. Aspen was 3.1% lower as of 2.20pm after falling as much as 9.9%, the most intra-day since January 9, on volumes triple the daily average for the past three months. Viceroy has no report on Aspen imminent, a person familiar with the matter said, asking not to be identified as the information isn’t public. Speculation that Aspen could be a Viceroy target first emerged in January, prompting a slump of as much as 12% in its shares before they recovered. The stock dropped 5.1% on Monday as suggestions resurfaced of a report by the short-seller, which flagged financial irregularities at retailer Steinhoff International Holdings and accused Capitec Bank of concealing loan losses and under-estimating bad debts. Aspen said it has addressed all issues raised about the company. Talk of a Viceroy...
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