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S&T shares plunge 30% by close of trading – Critical report from Viceroy Research

S&T shares extended their hefty losses on Thursday afternoon.

By the end of trading it was down 29.35 percent to 13.24 euros. In the course of trading, the shares marked their lowest level since June 2017 at EUR 12.36. After a very critical report by Viceroy Research, the Austrian technology company has now taken a stand. Initially, the investment firm Viceroy, which belongs to the short seller and stock market speculator Fraser Perring, criticized the quality of acquisitions, the growth and the balance sheet of S&T.

Now S&T reacted: The report by Viceroy is being analyzed, which takes time, “since some allegations concern old processes from the time before the current management of S&T AG and are neither related to the current management nor to S&T AG itself”. The report and the allegations it contained would now be examined in detail internally and externally over the next few days. S&T then wants to take a detailed public position and “come back with a specific package of measures”.

FRANKFURT (dpa-AFX)

Reference-www.finanzen.at

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