EOH share price surges 30% on asset disposal plans
The company has said it will dispose of additional assets as it seeks to address a R3.2bn debt burden
16 October 2019 - 12:50
Shares in EOH rebounded by almost a third on Wednesday, a sign that investors may be starting to buy into the technology firm’s turnaround efforts after a devastating fraud scandal involving its employees and the public sector.
EOH, whose stock value has almost halved so far in 2019, is in the middle of cleaning up its balance sheet following allegations of underhanded dealings with the government, forcing the company into taking billions of rand in writedown charges and losing nearly R1bn...
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