Short-seller Viceroy responds after FSCA slaps it with R50m fine for Capitec report
Short-seller Viceroy Research is subject to a R50m fine from the FSCA for making ‘false, misleading and deceptive statements’ about Capitec.
Short-seller Viceroy Research is subject to a R50m fine from the FSCA for making ‘false, misleading and deceptive statements’ about Capitec.
Viceroy Research, a short-seller that has targeted two South African companies this year, is profiting unethically from its reports and has escaped sanctions from local regulators because it is domiciled elsewhere.
Capitec’s share price dropped 21% in two days after the Viceroy report was made public and has bounced around these lower levels for the the past six weeks as Viceroy and Capitec traded statements publicly.
Viceroy’s spectacular success with Steinhoff means the firm’s attack on Capitec now carries disproportionate weight.
This week the Old Firm of Alec Hogg and David Shapiro continue their talk on Viceroy, and share differing opinions on SA’s turn around.