Publications
Publications
- February 2018 (Revised October 2019)
- HBS Case Collection
Steinhoff International and the Stock Exchange
By: Siko Sikochi and Austin Lim
Abstract
Nicky Newton-King, the Chief Executive Officer of the Johannesburg Stock Exchange (JSE), was put in a difficult position. A scandal had broken out at Steinhoff, a JSE-listed company, under her watch and there were calls to suspend listing of the company securities from the exchange. Newton-King understood that the scandal threatened to erode investor confidence in the credibility of South Africa’s capital markets, at a time when South Africa was already experiencing political and economic uncertainties. Yet, even if Steinhoff had violated listing requirements, she had to determine whether suspending the listing of Steinhoff’s securities from the exchange was in the public interest.
Keywords
Accounting; Financial Reporting; Mergers and Acquisitions; Financial Markets; Corporate Governance; Retail Industry; Manufacturing Industry; Distribution Industry; Africa; South Africa
Citation
Sikochi, Siko, and Austin Lim. "Steinhoff International and the Stock Exchange." Harvard Business School Case 118-066, February 2018. (Revised October 2019.)