LISTED PROPERTY
Delta Property Fund slumps to record low amid latest SA corporate scandal
Delta's share price collapses more than 30% the day after it announced it had found alleged fraud worth millions
10 December 2020 - 23:31
Delta Property Fund’s share price fell by almost a third to a record low, the day after its board revealed a R40m fraud at the company, in the latest scandal to hit a JSE-listed company.
The company, which was led by founder Sandile Nomvete until he left in August, slumped 32%, leaving it with a market value of R200m from R700m a year ago. The share price has dropped about 60% since the start of 2020...
BL Premium
This article is reserved for our subscribers.
A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now