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CAPE TOWN – NEPI, a company listed on JSE Rockcastle, one of the largest property investment portfolios in Eastern Europe, was hit Wednesday by the fall of its stock price. Action by more than 9% by mid-morning, according to a report by Viceroy Research.
Viceroy Research, known for publishing damaging information on South African companies such as Steinhoff and Capitec, cited in its report "irreconcilable international profits, rewarding management through mergers and acquisitions, misleading badysis by rejection of an independent investigation ".
Capitec, however, maintained its position by stating that the viceroy's report was full of factual inaccuracies, deceptive half-truths and sensationalist statements after being accused of using "healing" methods to conceal the disastrous underlying performance of its loan portfolio.
When contacted, a spokesman for NEPI Rockcastle said the company was aware of the report and would prepare a statement.
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