Funding plan fails to stem Stefanutti's slump
Listed construction company is exploring a longer-term funding plan due to sector liquidity problems
Construction engineering firm Stefanutti Stocks’ shares plummeted by a record 45.28% on Thursday despite the company’s announcement that it had secured an additional R391m in project funding.
Stefanutti, like other construction companies, has shrunk in value as the sector faces liquidity problems due to the slowdown in construction activity. The company’s shares are down 91.71% since the beginning of 2019. It closed at 20c on Thursday...