It did not take long. At 10.03 last Tuesday in Hong Kong an email alerted journalists to an imminent attack on Tianhe Chemicals that alleged fraud at the group.
Less than 30 minutes later, the report was public. Some 57 minutes after that, Tianhe’s stock was suspended at its request – a state in which it remains.
Tianhe, with a market capitalisation of $8bn, is the largest Chinese company to have been targeted by such a short seller-style report.
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