Tongaat Hulett share price plunges more than 60% after suspension lifted
Shares traded for the first time since June last year when the group was hit by an accounting scandal.
Tongaat Hulett. Image: Supplied
Embattled sugar and property group Tongaat Hulett’s share price tanked more than 60% in the first hours of trade on Monday morning, following the lifting of its almost seven-month suspension of trade on the JSE.
The share price of the KZN-based group, which was rocked by an accounting scandal involving inflated profits last year, was trading at around R5 by 10am on Monday morning. This was around 62% down compared with the R13.21 that Tongaat Hulett’s share price closed at on June 10 2019, when the share last traded.
For more news your way
Download our app and read this and other great stories on the move. Available for Android and iOS.