SES Imagotag shares plunge over 50% as trading resumes (updated)

Vusion SA

23/06/2023 09:40

(Updates with share move)
       June 23 (Reuters) - 
    SES Imagotag  SESL.PA  shares lost half their value on
Friday as they resumed trading, following the release the
previous day of a short-seller report on the company's finances.
  
        The French digital labels company requested the
suspension of its shares on Thursday after hedge fund Gotham
City Research said it believed SES Imagotag's financial
statements were "materially misleading, incorrect, and
deficient", which SES Imagotag's board rejected.     
    The company's shares fell by as much as 60% at one point on
the Paris stock exchange on Friday. They were last down 52%,
heading for their largest one-day decline on record, as of 0839
GMT.

 (Reporting by Olivier Sorgho; Editing by Amanda Cooper)
 ((Olivier.Sorgho@thomsonreuters.com))