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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.