Ozner Water hit by short-seller report

Shares in the water purification supplier fell 17% on Monday after short-selling firm Glaucus Research issued a report strongly urging investors to sell.
Eight months after its successful IPO, the water purification suppliers is coming under fire
Eight months after its successful IPO, the water purification suppliers is coming under fire

Shares in Ozner Water, one of China’s largest water purification suppliers, fell 17% before trade was suspended on Monday after a research report claimed the company had exaggerated its production, sales and profits.

The sell report, published by Glaucus Research Group California, a US short-selling group, comes roughly eight months after Ozner Water raised HK$1.14 billion $147 million from its initial public offering in Hong Kong.

In the report published February 16, Glaucus valued Ozner Water at between HK$0.27 and HK$0.85 per share, 76% to 92% below Friday’s closing price of HK$3.29. The share price subsequently tumbled on Monday from...

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