Ann Crotty
3 minute read
30 Jan 2021
7:10 am

Steinhoff saga still dragging on

Ann Crotty

Investors are looking closely for signs of progress with the board’s long drawn-out battle to avoid liquidation.

Steinhoff. Picture: Supplied

Just four weeks into the new year and the Steinhoff share price has already almost doubled. It is the strongest and most sustained run in the share price since the group’s implosion a little over three years ago; an implosion that saw the share price plunge from around R56 in late November 2017, to a mere R5 a month later. It will be of little comfort to those who suffered in the R200 billion-plus value wipeout to know the current R2.10 is the strongest it’s been since early 2019. Which way the share price will go from here is anyone’s...