Steinhoff granted leniency on record fine
The market appeared relieved by a reduced penalty for Steinhoff, announced yesterday by the Financial Sector Conduct Authority. Still, at R53 million it remains the FSCA’s highest fine yet. And AB InBev’s announcement that it still plans to list its Asia Pacific business on Hong Kong’s stock exchange also met with a favourable response from investors, sending its shares higher.
Meanwhile, TreasuryONE reports that the Rand reached its strongest since the end of July following an eventful session.
Read more on these stories and results from Spur Corporation, African Rainbow Capital Investments and Bowler Metcalf.
Steinhoff granted leniency on record fine To avoid penalising innocent shareholders further, the FSCA has remitted a portion of an administrative penalty.
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AB InBev still mulling Asian IPO News reports say the flotation could be announced as early as next week, with the share sale aimed at paying down debt.
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Spur boosted by global expansion The restaurant group has reported a healthy rise in earnings as it grows its global franchise.
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Who’s doing what in the African M&A space? Weekly summary of all M&A activity from across Africa (excluding South Africa)
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Daily Forex Market Wrap 2019-09-12 An event driven day ends with the ZAR at its strongest levels since the end of July. The ECB was undoubtedly the major market mover.
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