Grizzly Capital has reduced its short position in Sinch to below 0.5 percent of the share capital and is therefore no longer a public short seller in the company, according to the latest short-selling data from the Swedish Financial Supervisory Authority (FI).
There are currently five public short sellers in Sinch, with a total of 8.17 percent of the capital being shorted.
The Financial Supervisory Authority requires positions exceeding 0.1 percent to be reported, while short positions exceeding 0.5 percent must be made public.
Yesterday, reports emerged that the short-selling firm Grizzly Research had issued sharp criticism against Sinch in a report. The criticism was primarily directed at the American voice services provider Inteliquent, which Sinch acquired in 2021 and which remains a key financial contributor to the group.
Sinch's shares initially fell yesterday but closed sharply higher, up 12.7 percent.
The Financial Supervisory Authority's short-selling register showed yesterday that Grizzly Capital had become a public short seller with 1.01 percent of the capital, but the position was subsequently reduced during the share price rally.
Sinch AB (publ), formerly CLX Communications AB (publ), is a Sweden-based company primarily engaged in the provision of cloud computing services under the brand Sinch. It operates a communication platform, which enables business entities to communicate with their customers. The Company's activities are divided into four operating segments: Enterprise Division, Operator Division, Sinch Voice & Video, and Vehicle. The Enterprise division is responsible for handling messages for enterprises via Short Message Service (SMS), voice and mobile data, among others. The Operator segment provides software, licenses and technical support to mobile operators. The Sinch Voice & Video segment covers the Company's real-time voice and video products. The Vehicle segment offers a mobile video marketing platform.
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