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Steinhoff drops further 18 percent on accounting scandal
December 7, 2017 / 7:19 AM / 5 days ago

Steinhoff drops further 18 percent on accounting scandal

JOHANNESBURG, Dec 7 (Reuters) - Shares in Steinhoff plunged more than 18 percent in Johannesburg trade on Thursday, extending heavy losses suffered the previous session after the South African retailer revealed “accounting irregularities” and its chief executive quit.

By 0707 GMT, the stock had slid 18.17 percent to 14.41 rand, adding to a more than 60 percent plunge in the previous session. (Reporting by Tiisetso Motsoeneng; Editing by Susan Fenton)

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