JSE suspends Steinhoff Investment

THE SOUTH African stock exchange JSE said yesterday that it had suspended trading of Steinhoff Investment Holdings’s preference shares after the company failed to submit its annual report on or before February 28, 2018. Steinhoff Investment Holdings is a subsidiary of Steinhoff International Holdings, whose shares plunged in December after it admitted to accounting irregularities. “Steinhoff International Holdings has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the JSE and therefore the JSE wishes to reaffirm that it is not considering the suspension of Steinhoff International,” the JSE said. – African News Agency (ANA)