Steinhoff shareholders to receive payouts

JOHANNESBURG - Investors who lost money in the 2017 fraud-related Steinhoff crash will receive settlement payouts from Wednesday.

The payments apply to those who have submitted successful claims.

They filed claims of over R80-billion and argued they were misled into overpaying for the stock.

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But, Steinhoff reached a R24-billion cash and Pepkor share settlement early last year.

Analysts say they are likely to receive an average of R5 a share.

The share was worth R46 the day before the steep crash.