Liquidity crunch hits Stefanutti Stocks
Listed construction firm is mulling a rights issue as part of a funding plan to ease the problem
30 May 2019 - 18:50
Listed construction company Stefanutti Stocks is in urgent need of funds as its liquidity problems threaten its financial survival.
The company’s liquidity is taking strain because of a lack of infrastructure spending in SA and slow payments by clients. As at February 28, the company’s current liabilities exceeded current assets by R301m. In the past financial year, the company reported a net loss of R111m...
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.