June 6, 2017 / 10:30 AM / 3 years ago

Shares of AAC Technologies to resume after short-seller report

HONG KONG, June 6 (Reuters) - Trading in shares of AAC Technologies will resume on Wednesday, nearly three weeks after the Apple Inc supplier sought a suspension when its stock fell following a short-seller report that accused it of dubious accounting.

Shenzhen-based AAC Technologies, a maker of miniaturised acoustic components including speaker boxes, speakers, receivers and microphones, reiterated in the statement to the Hong Kong stock exchange on Tuesday that the allegations in the Gotham City Research report were groundless.

In May, shares of AAC Technologies dropped as much as 11 percent before being suspended, after Gotham City published its second report in about a week critical of the company.

AAC Technologies was founded in 1993 by current CEO Benjamin Zhengming Pan and his wife Ingrid Chunyuan Wu, a non-executive director, who together own 40.34 percent of the stock, according to AAC’s annual report. (Reporting By Anne Marie Roantree; Editing by Sunil Nair)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below