German market regulator lifts short sale ban on Wirecard
FRANKFURT, April 19 (Reuters) - Germany's markets regulator
Bafin on Friday said its two-month ban on short-selling shares
of payments company Wirecard had expired.
In February, Bafin initiated the ban due to volatility in
Wirecard's stock following reports in the Financial Times that
became the subject of an investigation by German authorities.
Wirecard has denied wrongdoing and the FT has stood by its
The short-selling ban "has now expired", Bafin said in a
statement, without elaborating further. Short-selling is when an
investor borrows shares to sell in the hope of being able to buy
them back later at a lower price.
Earlier this week, Bafin filed a complaint with the Munich
Prosecutor's Office alleging market manipulation in the shares
A series of reports run by the FT, citing a whistleblower's
claims of fraud and creative accounting at its Singapore office,
have wiped billions off Wirecard's market value and triggered a
police investigation in the Asian state.
(Reporting by Tom Sims, Editing by Rosalba O'Brien)
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