Call it the Singapore squeeze. The city state is becoming a tactical testing ground in executives’ fight back against short sellers. China Minzhong, the food producer savaged by Glaucus Research last week, yesterday announced a takeover offer from its biggest shareholder that recovered all the value lost in the attack, and more. Last year, Olam blasted Muddy Waters, Glaucus’s better-known California compatriot, with a capital-raising backed by the financial firepower of one of its biggest shareholders, Temasek. But Olam’s shares are now just 3 per cent above their post-attack low. Temporary tactics aside, the effects of short sellers can be hard to shift.
不妨稱其爲「新加坡擠壓」。這個城市國家正成爲企業高階主管們抗擊賣空者的戰術演習場。上週遭到美國賣空集團——格勞克斯研究集團(Glaucus Research)嚴厲抨擊的中國閩中食品(China Minzhong)，昨日宣佈其最大股東發出收購要約，在這一訊息刺激下，目前該公司股價甚至高於賣空者發起攻擊之前。去年，新加坡奧蘭公司(Olam)對格勞克斯的加州同行、知名度更高的渾水公司(Muddy Waters)發起反擊，在其最大股東之一淡馬錫(Temasek)的財務火力支持下，進行了一次籌資。但是，奧蘭股價目前僅比遭遇攻擊後的低位高出3%。撇開臨時戰術，賣空者產生的效應可能難以擺脫。