Steinhoff Flirts With Collapse as Stock Rout Worsens: Chart

Steinhoff International Holdings NV plummeted on Wednesday, dragging its share price below 5 rand for the first time since 2003, after investors filed a suit against the company. Steinhoff’s lack of visibility on individual operating companies’ cash flows and inability to clarify the magnitude of accounting irregularities has just compounded uncertainties, according to Bloomberg Intelligence analysts Shan Liu and Charles Allen.