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Hong Kong's Fullshare says critical research report 'misleading'
May 2, 2017 / 1:53 PM / 7 months ago

Hong Kong's Fullshare says critical research report 'misleading'

HONG KONG, May 2 (Reuters) - Hong Kong property and healthcare group Fullshare Holdings Ltd said on Tuesday allegations by Glaucus Research that caused its shares to plunge last week were “misleading and groundless”.

California-based Glaucus Research Group, in a report last week, queried Fullshare’s stock trading patterns, its valuation and asset disposals.

Saying the report comprised “irresponsible speculations,” Fullshare said in a filing to the Hong Kong exchange that the company was consulting its legal advisers and would consider taking legal actions against Glaucus.

Glaucus, whose website does not have a phone number, did not immediately respond to an email from Reuters seeking comment.

Fullshare said it would consider a share repurchase and other measures to protect shareholders’ interests.

Glaucus’s report, the latest from an independent researcher questioning corporate practices at a Chinese company, triggered a trading suspension in Fullshare shares on April 25. The company has requested a resumption on May 4. (Reporting by Meg Shen; Editing by Mark Potter)

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