Tongaat shares crash by two-thirds as investors jump ship
The agri-processing company's seven-month suspension followed one of SA’s biggest corporate scandals
03 February 2020 - 10:38
UPDATED 03 February 2020 - 23:39
In a sign that investors are not convinced about Tongaat Hulett’s turnaround strategy, the agri-processing company’s share price crashed by two-thirds on its first day of trade on the JSE after a seven-month suspension.
Shareholders, who had been prevented from exiting the company since June, reacted to its return to the market by pushing the shares down 67% to a record low...
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