January 6, 2020 / 8:14 AM / 21 days ago

UPDATE 1-NMC Health to assess cash position after short-seller attack

(Adds details of review, shares)

Jan 6 (Reuters) - NMC Health said on Monday an independent review, launched after U.S. short-selling firm Muddy Waters criticised the private healthcare provider’s financials, will initially assess its cash balances as of Dec. 15.

Muddy Waters took a short position in NMC in December and questioned the value of its cash balance and assets, as well as reported profits and debts, triggering a selloff in the company’s shares.

NMC, which later that month promised to launch an independent review of its finances, said it expects to complete the review of its cash balances “as soon as possible” and publish the findings of the full assessment before its annual results.

Shares of the FTSE 100 company, which have lost a third of their value since the Muddy Waters report, slipped another 3% in morning trade. (Reporting by Yadarisa Shabong in Bengaluru Editing by Saumyadeb Chakrabarty)

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