[LISTEN] Steinhoff share price fell 70%. Why was trade not suspended?
The JSE's John Burke is adamant that suspending Steinhoff's trade on the JSE will not take the bad news away.
JOHANNESBURG – The JSE's John Burke says after Steinhoff’s share price fell over 70%, trade on the stock exchange wasn’t suspended because there were no irregularities.
“We can only suspend trade when there are irregularities in terms of listings requirements. We were not convinced that there’s enough information for us to suspend trade.”
Burke was adamant that suspending trade would not take the bad news away.
About R183 billion of value was wiped off the JSE following allegations of financial irregularities at the furniture retailer.
Listen to the audio above for more.
(Edited by Refilwe Pitjeng)