Murray & Roberts (M&R) lost more than 20% of its market value on Tuesday after announcing it was in talks to refinance its debt and sell assets as it seeks to overcome a cash crunch at its SA business.

The construction and engineering company, valued at just under R1bn, ended the day 22% lower,  extending losses to almost 40% since Tuesday when it informed shareholders that its SA business had been “severely” affected by liquidity constraints...

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