The resounding question, of course, is not why this is still a topic of conversation in 2023, but why Steinhoff is still trading at all. Because as incredible as it may seem, at a price of “just” 50c a share, you can still get your hands on some Steinies before they become well and truly worthless. Some may argue that they are already worthless, despite a tight bid-offer spread that suggests a willing group of buyers at this price.
It’s not all bad news. Another Steinhoff stepchild — Pepco — is showing how good things could have been for Steinhoff in an alternate reality. In the three months ended December , revenue for this plucky European value retailer was up 27% on a constant currency basis and 24% as reported. There’s a major effort underway to increase the store footprint, evidenced by like-for-like growth coming in at 13% versus the much higher total growth.
Other than for institutional investors who may want to walk a risky journey alongside the creditors in pursuit of whatever crumbs fall off the royal table, unlisted shares are generally a bad idea.Shame man. Telkom really is that awkward kid that no one wants to take to the school dance , the parties decided to walk away from a potential deal. No further details were given.
Wasnt steinhof 27c fairly recently? - an almost 100% rise then for those selling now, outstripping most blue chip shares' performance
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