21Vianet Gains as CEO Avows Financial Statements
This article is for subscribers only.
21Vianet Group Inc., the Chinese data-center operator accused by a short seller of fraud, rose for a second day in U.S. trading as its top executive denied the claims and presented a detailed response to the allegations.
The American depositary receipts advanced 8 percent to $21.46 in New York. Trading volume of 8 million shares was 3.9 times the average of the past three months. The stock surged 28 percent on Sept. 12 as analysts from Morgan Stanley to Credit Suisse Group AG stuck to their bullish calls following a record rout spurred by Trinity Research Group’s claim that the company overstates its business and uses financings and acquisitions to inflate growth.