SBB is dismissed – no suspicions of blanker

Charlie Taylor

SBB’s CEO Ilija Batljan describes the blanks as “criminal”.Updated: 10 April 2022, 12:59Published: 10 April 2022, 12:57Since Viceroy Research launched its attack on SBB in February, SBB B -1.53% Today’s development has set the tone from both sides, and the real estate company’s CEO and main owner Ilija Batljan has repeatedly accused the actors behind the blatant attack of being “criminal”.SBB also has submitted a request to Finansinspektionen, FI, to initiate an investigation of the blank attack. The request concerns allegations from Viceroy Research, where SBB argues that representatives of the short-selling company have committed market manipulation by disseminating incorrect information, and partly how the short-selling of SBB’s shares looked during the year. The latter is about 10 percent of SBB’s share capital is stated to have been shortened without any short-selling position being published, for which the limit value for an individual position is 0.5 per cent. The initial notification did not give rise to any action by FI, where it was considered too thin and generally held to proceed, and the latter supplement – which consisted only of publicly available market data – has not changed anything in that respect.By FI’s diary It appears that no action was taken after the authority reviewed the information and accusations made by SBB in its request for review. This is also confirmed by FI employees. ”If we receive a tip with sensible evidence, we will investigate it. But SBB has not presented any concrete information that can be investigated, except at a general level “, says an employee with insight into the matter.” We receive this type of tip daily, and many that are much more specific than that. here is “, says the same person about SBB’s request. As for the fact that no short selling positions have been published, despite the fact that one tenth of SBB’s shares are stated to have been shorted, is not in itself irregular. However, the EU Transparency Directive requires a group of companies to aggregate their positions at group level when calculating a short position. “We do not comment on how large the short-selling position is or has been, but since only those positions that are more than 0.5 per cent are public, situations can arise where a company is shorted to 10 per cent without there being published positions,” says Martin Kullendorff , Deputy Head of Market Supervision.Is that a reasonable order?
“We follow current rules. The limit for when the positions are to be published follows directly from the short-selling ordinance. ”Nor has the Economic Crimes Authority, EBM, taken any concrete measures in connection with SBB’s accusations. For example, a preliminary investigation into market manipulation has not been initiated, which is done when there is reason to assume that a crime has been committed. Since Viceroy Research published its first report on SBB on February 21, the real estate company’s share has declined by about 15 percent. is slightly up during the same period.Martin Rex

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