Viceroy says it's waiting for invitation to Capitec hearing

A screengrab of Viceroy's Twitter page
A screengrab of Viceroy's Twitter page

Short-seller Viceroy Research said it’s prepared to appear before lawmakers in South Africa to substantiate claims made against Capitec Bank Holdings Ltd [JSE:CPI] that sparked a slump in the lender’s share price, but hadn’t received a formal invitation.

The New York-based company was responding to Yunus Carrim, chairperson of Parliament’s Standing Committee on Finance, who said on Wednesday it was “unacceptable” that Viceroy had refused to participate in a hearing in Cape Town.

Carrim said the company had been invited but said it couldn’t comply because it is based in the US.

“We were contacted by a Parliament officer, where we asked for a formal invite to discuss Capitec issues, and put our case forward,” Viceroy founder Fraser Perring said in an emailed response to questions.

“We never received this invite, despite numerous requests.”

Viceroy was also prepared to meet with South African regulators, Perring said.

As recently as five days ago, it proposed dates for a meeting in New York with members of the Financial Services Board, but hasn’t received a response, he said.

South Africa’s FSB was replaced by a new regulator, the Financial Services Conduct Authority, last month.

Viceroy has email correspondence that disproves the regulator’s statement that it was avoiding any interactions or discussions, according to Perring.

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