GeoInvesting hedge fund issues report critical of Sino Grandness

SINGAPORE(Oct 26): US hedge fund GeoInvesting LLC issued a critical report on Singapore-listed food processor Sino Grandness Food Industry Group, citing concerns in its reporting of revenues and a delay in an initial public offering of a unit in Hong Kong.

Sino Grandness, whose shares have slumped as much as 57% since June, may also have amended filings to Hong Kong regulators, where the company is planning an IPO of its beverage subsidiary, GeoInvesting said in a report released Wednesday.

Sino Grandness couldn’t immediately be reached when contacted by telephone.

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