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PSA wants details from PIC on Steinhoff shares

The PSA’s Tahir Maepa says they requested the documents to assist them with the planning of the class action against the retail giant.

Steinhoff's offices in Stellenbosch. Picture: Supplied

CAPE TOWN - The Public Servants Association (PSA) has written to the Public Investment Corporation (PIC), requesting information regarding the number of shares purchased at Steinhoff.

The PSA’s Tahir Maepa says they requested the documents to assist them with the planning of the class action against the retail giant.

“We have requested the PIC to provide us with information on the number of shares purchased in Steinhoff and when they were purchased. We also want to know at what price the shares were purchased.”

The association indicated that more than R12.5 billion in public servants' pensions were lost when Steinhoff’s value dropped by R194 billion following allegations of fraud last year.

(Edited by Shimoney Regter)