Aussie hedge fund Regal sees weakest day in 2 months on S.Korea indictment

Regal Partners

18/10/2024 01:19

** Shares of Australia's Regal Partners  RPL.AX  fall as
much as 4.4% to A$3.72
    ** Stock set for weakest trading session since late August
    ** The fund manager says South Korea's financial watchdog
has indicted Regal Funds Management and one of its ex-employees
over breaches of the country's short-selling laws
    ** Bloomberg News had in May reported that Korean regulator
was looking into the hedge fund over potential short-selling
rules breaches 
    ** Regal Funds Management is an unit of ASX-listed Regal
Partners
    ** Regal says will assess the materiality of any potential
one-off financial impact to the group 
    ** Stock has risen 46.2% this year, as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))