Reuters: Regulatory News: China Minzhong shares fall 13 percent after report by shortseller Glaucus

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China Minzhong shares fall 13 percent after report by shortseller Glaucus Aug 26th 2013, 02:39 SINGAPORE | Sun Aug 25, 2013 10:39pm EDT SINGAPORE Aug 26 (Reuters) - Shares in Singapore-listed China Minzhong Food fell more than 13 percent on Monday after a research house with a short position in the company accused the vegetable producer of irregularities in its sales figures. Glaucus Research Group issued a report that said the irregularities involved sales to China Minzhong's top two customers, according to "corporate registry records". A spokesman for China Minzhong said the company had no immediate comment to make. Shares in China Minzhong fell as much as 13.3 percent with more than 9.4 million shares traded, more than three times the average full-day trading volume of 2.5 million traded over the past month. Four analysts have a 'buy' or 'strong buy' on the stock, Thomson Reuters data shows. China Minzhong is due to release full-year results on Aug. 29. Glaucus Research, which is based in California, said they and their associates have a direct or indirect short position in the company so stand to make money if its share price declines.

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