UPDATE 2-Payments group Finablr slides 56% on news of financial investigation - Reuters:
Shares in Travelex owner Finablr plunged by 56% on Thursday after it launched an internal investigation into its financial situation and said it will take steps to address a liquidity squeeze.
A Finablr spokesman declined to elaborate on the exact nature of what the company described as “an independent investigation” into its “financial arrangements” and which comes after its Travelex business was hit by a damaging ransomware attack and as it contends with disruption from the coronavirus pandemic.
NMC Health, which shares the same founder, issued a short statement an hour later saying that a review by external advisers had shown evidence pointing to suspected fraud related to some of its previous financial activities.
The financial difficulties of founder BR Shetty appear to be spreading to other companies of his portfolio and London-listed Finablr said it was taking urgent steps to assess its current liquidity and cashflow situation.
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