You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App
Join our mailing list to receive top business news every weekday morning.

The PIC reacts to the Steinhoff implosion

Awaiting further information from investigative agencies.
Picture: Moneyweb

The Public Investment Corporation (PIC) responds to revelations of accounting irregularities at Steinhoff:

The PIC applies the highest standards of corporate governance in administering its own affairs. As an institutional investor, the PIC expects the same commitment from all investee companies. Allegations of accounting irregularities by Steinhoff International Holdings NV, that have exposed the company to possible criminal investigations, are serious concerns for the PIC. The PIC’s exposure to Steinhoff is approximately 10% of shares in issue. At this stage the PIC is awaiting further information from investigations by domestic and international regulators and/or law enforcement agencies, to decide on an appropriate course of action.

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   0

You must be signed in to comment.

SIGN IN SIGN UP

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

NEWSLETTERS WEB APP SHOP PORTFOLIO TOOL TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: