×

We've got news for you.

Register on SowetanLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Aspen uncertain as to why shares dropped as much as 10%

FILE PICTURE: EFF members join protesting workers outside the Aspen Pharmacare building.
Aspen FILE PICTURE: EFF members join protesting workers outside the Aspen Pharmacare building.
Image: YOLISWA SOBUWA

Aspen Pharmacare said on Tuesday — after its shares slid more than 10% on the JSE — that it was unable to confirm whether investigative research house Viceroy Research was compiling a report about the company.

Viceroy‚ the research group that published an exposé on Steinhoff International‚ is said to be looking into the pharmaceutical company’s affairs. Viceroy identifies short-selling opportunities in financial markets.

“Aspen shareholders are advised that it has had no contact with Viceroy Research and‚ as such‚ is unable to confirm that this speculation is correct‚” the company said in a statement.

Aspen said it was not aware of “any information of a price-sensitive nature that requires communication to shareholders”.

Trading in the current financial year had been consistent with the prospects published in Aspen’s 2017 financial year results statement in September.

Shares in Aspen fell more than 10% at one stage to R234.98 on Tuesday. At 3.19pm‚ the stock had recovered most of its losses‚ trading 1.56% down at R258.

Steinhoff’s shares were down 15.32% at R7.35 after reports that the European Central Bank had sold its bond holdings in the company.

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.