Pepkor fined millions by JSE

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Pepkor, previously known as Steinhoff Africa Retail, has been fined R5 million by the Johannesburg Stock Exchange (JSE) for breaching listing requirements, with R1 million suspended for two years.

The company kept certain financial information about loans in its pre-listing statement and its 2017 annual financial statements hidden from the local bourse.

According to a statement released by the JSE, Pepkor has fully acknowledged that insufficient disclosures were made during the process of its listing and that the board and management have engaged in a clear and positive way with the JSE on the issue and welcomes the conclusion of the investigation.