Steinhoff investor Wiese sells part of Shoprite stake [Reuters]
SHOPRITE HLDGS LTD S/ADR (SRGHY)
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shopriteholdings.co.za/investor-centre.html
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Source: Reuters
Steinhoff investor Wiese sells part of Shoprite stake | Reuters Reuters Staff 2 Min Read JOHANNESBURG (Reuters) - South African investor Christo Wiese has sold an additional 1.1 billion rand ($87 million) of shares in supermarket group Shoprite ( SHPJ.J ), exchange filings showed on Thursday, after his exposure to scandal-hit retailer Steinhoff ( SNHJ.J ) dented his fortune. More than $14 billion of shareholder value has been wiped off Steinhoff over the last three weeks after the owner of Mattress Firm and Conforama discovered what it called accounting irregularities and parted company with its chief executive. The 90 percent collapse hit Wiese’s wealth -- estimated by Forbes magazine to have dropped to below $1 billion -- the hardest as he is the largest Steinhoff shareholder with a stake of about 20 percent. Exchange filings showed Wiese sold 5 million shares at an average price of 221.5 rand each in Shoprite, a 128 billion rand ($10.1 billion) company in which he owns about 17
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