Spruce Point is short on Super Group (SGHC)
- "... identified what we believe are serious issues with the integrity of its financial reporting and transactions with a closely connected shareholder"
- "Our work points to a material omission of a minority ownership interest in its crown‑jewel South African subsidiary, Raging River Trading (Pty) Ltd (“Raging River”). SGHC states that it owns 100% of the subsidiary but our documentary evidence contradicts this claim."
- "... expect the share price to significantly underperform the equity market and the gaming industry"
Reaction details (14:03)
- SGHC -3% in pre-market trade.
12 Feb 2026 - 14:01- Equities- Source: Spruce Point
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