PRETORIA – Listed property company NEPI Rockcastle yesterday hit back at Viceroy Research, urging the Financial Sector Conduct Authority to initiate a market abuse investigation against the organisation as a matter of urgency.
NEPI said that the authority should also alert relevant overseas regulators to consider whether Viceroy was regulated appropriately and operating in line with market conduct and laws.
The request follows the release of a damning report by Viceroy on Wednesday, which plunged NEPI shares into a tailspin, wiping more R9 billion off its market cap.
Yesterday NEPI recovered from the 14.07 percent slump that it had undergone on the release of the Viceroy report to close 11.72 percent higher at R110.76.
NEPI said it wanted Viceroy and its associates to declare any trading positions they may have on the company on the day the report was issued in order to facilitate a proper investigation.