Fullshare jumps 17 pct after it dismisses short-seller claims (updated)

Fullshare Holdings

04/05/2017 02:49

(Updates with opening price, adds background) 
    HONG KONG, May 4 (Reuters) - Shares of Hong Kong-listed 
property and healthcare group Fullshare Holdings Ltd  0607.HK  
jumped nearly 17 percent on Thursday after it rejected 
allegations by a U.S.-based shortseller about its financial 
health.  
    Shortseller Glaucus Research, in a report last week, had 
queried Fullshare's stock trading patterns, its valuation and 
asset disposals. The report said Fullshare was "one of the 
largest stock manipulation schemes trading on any exchange 
anywhere in the world".  urn:newsml:reuters.com:*:nL4N1HY1NN  
    Fullshare said in a statement to the Hong Kong stock 
exchange late on Tuesday the allegations, which had caused its 
shares to plunge last week, were "misleading and groundless" and 
it was consulting legal advisers.  urn:newsml:reuters.com:*:nL4N1I43MO 
    Shares of Fullshare surged as much as 16.7 percent early on 
Thursday to HK$2.85, recouping all of the losses it incurred 
following the Glaucus report.  
    The company halted trading last week after its shares 
plunged nearly 12 percent following Glaucus' allegations. 
 urn:newsml:reuters.com:*:nH9N1GD00S  
    Glaucus said in another statement on Thursday that 
Fullshare's response was totally inadequate and failed to 
present any meaningful rebuttal to its allegations. 
    On Wednesday, Fullshare said in a separate statement that 
China CITIC Bank Corp  601998.SS  had agreed to provide it with 
credit of not less than 10 billion yuan ($1.45 billion).    
     
 
($1 = 6.8970 Chinese yuan renminbi) 
 
 (Reporting by Anne Marie Roantree; Editing by Stephen Coates) 
 ((annemarie.roantree@thomsonreuters.com; +852 97387151; Reuters 
Messaging: annemarie.roantree.thomsonreuters.com@reuters.net)) 
 
Keywords: FULLSHARE HLDG STOCKS/