UPDATE 1-UAE's NMC Health reaffirms outlook after Muddy Waters attack - Reuters:
NMC Health Plc stood by its forecasts for 2019 and 2020 and announced a share buyback on Wednesday, seeking to reassure investors after a report from U.S. short-selling firm Muddy Waters wiped a third off the healthcare group’s market value.
The UAE-based company said it would look into the firm’s findings and provide a detailed response in due course, calling the criticism of its financial statements “baseless”.
The short seller on Tuesday questioned the value of NMC’s assets and cash balance as well as its reported profits and debts in a research note.
“NMC understands its regulatory disclosure obligations and has nothing to add to disclosures already made,” the company said in a statement.
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