By Janice Kew
(Bloomberg) — Trading of shares in Steinhoff International Holdings Ltd. and Brait SE are being investigated by South African regulators as part of an insider trading probe.
Trading in Steinhoff stock is being examined between September and November, the months leading up to the retailer’s announcement of its 62.8 billion rand ($5.2 billion) acquisition of Pepkor Holdings Pty Ltd., South Africa’s Financial Services Board said in a statement dated June 23. Trading in Brait, the investment company that bought British fitness chain Virgin Active in April, is also being probed.
“It should be noted that these investigations are not into the affairs of the companies listed but into trading of shares on the stock exchange,” the FSB said.
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