Conduit Capital’s Constantia Insurance faces liquidation
31 August 2022 - 20:40
Conduit Capital’s share price plunged after it emerged that its subsidiary, Constantia Insurance — which was placed into provisional curatorship by the Prudential Authority (PA) in early August — now faces possible liquidation.
JSE-listed Conduit’s shares slumped as much as 56% to 4c before paring losses to close down 33% at 6c on Wednesday. The share price drop came after a business update was issued on Tuesday by provisional curator Ashish Desai advising that he and the PA, a division of the Reserve Bank, had launched an urgent application to have Constantia Insurance liquidated...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.