MENU
 
 Registered users can save articles to their personal articles list. Login here or sign up here

Shares in KAP Industrial fall 8% on Steinhoff woes

Industrial group says that while Steinhoff is a major shareholder, it doesn’t have control.

Shares in South Africa’s KAP Industrial Holdings fell to an 11-month low on Wednesday as companies related to Steinhoff fell out of favour with investors following the resignation of its chief executive amid an accounting probe.

Read: Steinhoff shares plunge after CEO Markus Jooste quits

The share price was down 7.7% at R8 by 1358 GMT, prompting the logistics and industrial group to say that while Steinhoff is a major shareholder, it did not have control.

 

KAP share performance

 

“KAP is independently managed, controlled and funded and as a result should be unaffected by these recent announcements,” the company said in a statement. 

Read: Brait falls sharply on Steinhoff woes

COMMENTS   0

To comment, you must be registered and logged in.

LOGIN HERE

Don't have an account?
Sign up for FREE

LATEST CURRENCIES  

ZAR / USD
ZAR / GBP
ZAR / Euro
GO TO SHOP CART

Follow us:

Search Articles:Advanced Search
Click a Company:
server: 172.17.0.2