Glaucus prepares fresh Chinese assault

The man who helped push China Metal Recycling into liquidation, Glaucus Research Group’s Soren Aandahl, tells FinanceAsia how he sniffs out fraud and where he is looking for his next target.
Mainland Chinese companies have raised $3,526 billion since Tsingtao Brewery became the first to sell its shares in Hong Kong 20 years ago.
Mainland Chinese companies have raised $3,526 billion since Tsingtao Brewery became the first to sell its shares in Hong Kong 20 years ago.

The 20th anniversary celebrations of mainland Chinese companies listing in Hong Kong, marked in July, look set to be dampened by fresh allegations.

US research group Glaucus says it is preparing to disclose corporate governance failings by mainland Chinese companies listed in Hong Kong as well as Singapore and seek to profit from a subsequent drop in their share prices.

Glaucus is best known for uncovering widespread fraud at China Metal Recycling Holdings. The California-headquartered research boutique’s report resulted in Hong Kong’s financial watchdog suspending trading in the scrap metal merchant’s shares in January and the start of liquidation proceedings in July.

Meanwhile,...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222