Eskom’s bonds face suspension from South Africa exchange

PUBLISHED: Mon, 15 Jan 2018 16:05:45 GMT
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South Africa’s stock exchange has not received Eskom’s interim results on time and if they are not submitted by Jan. 31 trading of the power utility’s debt may be suspended, the Johannesburg Stock Exchange (JSE) said on Monday.

Cash-strapped Eskom, the sole power supplier in Africa’s most industrialised economy, has struggled after a leadership crisis and has been at the heart of allegations of illegal contracts and undue influence in awarding tenders.

The JSE said Eskom had until the end of the month to submit its results. Eskom did not respond to request for comment.

“Eskom’s listed debt securities and registration of their programme memorandum may be suspended in accordance with the provisions of the JSE’s Debt Listings Requirements,” the JSE said in a statement.

“Trading can still take place pending the JSE’s decision on whether it will suspend or not in accordance with the Debt Listings Requirements.”

Reporting by Joe Brock; Editing by Catherine Evans

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