Short-sellers are sitting on paper profits of £22m after a warning from embattled shopping centre owner Intu that it could need to raise new equity wiped another two fifths off the value of its shares.
About 5.5pc of Intu’s shares are on loan to hedge funds, including Marshall Wace and Crispin Odey’s outfit, which borrow shares and sell them in the hope of cashing in when they fall in price.
