Short Sellers Attacking Your Stock? Citic Bank Is Here to Help

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Short Sellers Attacking Your Stock? Citic Bank Is Here to Help

Bloomberg News
June 9, 2017, 12:04 PM GMT+8

Call it the short-seller defense package.

For the second time in five weeks, China Citic Bank Corp. has offered a 10 billion yuan ($1.47 billion) line of credit to a Hong Kong-listed company targeted by an activist short seller.

The state-owned Chinese lender’s latest client is AAC Technologies Holdings Inc. The Apple Inc. supplier announced an agreement with Citic Bank on Friday that looked almost identical to the one struck by Fullshare Holdings Ltd. last month. AAC, a maker of miniaturized speakers and receivers for mobile phones, has been targeted by Gotham City Research, while Fullshare, a property developer, is fending off allegations from Glaucus Research and GeoInvesting LLC.

Both stocks got a boost from the show of support by Citic Bank, which says its decisions are based on "prudent, professional and reasonable" assessments. The lender’s deep pockets could make life difficult for activist short sellers, who have targeted more Hong Kong stocks in the past 12 months than at any time in at least five years.

More details in https://www.bloomberg.com/news/articles/...re-to-help

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In financial markets, a dead horse can become alive again, depending on their master's wishes but a wounded horse can die if those around believe it is dying.

Would Noble attempt to sign up for their package?

[cfa]

In financial markets, a dead horse can become alive again, depending on their master's wishes but a wounded horse can die if those around believe it is dying.

Would Noble attempt to sign up for their package?

Guess many shareholders hope Management of Noble signs this up .