Muddy Waters to target more HK-listed firms

Hong Kong

CARSON Block said he would seek out more Hong Kong-listed companies to target, after the prominent short-seller took aim at China Huishan Dairy Holdings Co with a report alleging that the US$4.9 billion dairy farm operator was "worth close to zero".

Mr Block, founder of Muddy Waters Capital LLC, said he's concerned that prices of stocks traded in the city can be manipulated because of the low 25 per cent free float requirement. That also makes Hong Kong a challenging market to sell short, Mr Block said.