Fall knocks 28% off Stefanutti share price in one day
Shares now trade at 36c, a drop of almost 99% from their high hit just months after listing in 2007
The share price of listed construction firm Stefanutti Stocks fell as much as 28% on Tuesday, its worst loss since its listing in August 2007. This brought the company’s year-to-date loss to almost 90%.
Stefanutti’s liquidity is taking strain because of a lack of infrastructure spending in SA and slow payments by clients, with the company reporting in May that by the end of February its current liabilities exceeded current assets by R301m.