South African Regulator Probes Trades in Gupta-Linked Oakbay
JOHANNESBURG (Capital Markets in Africa) – A South African financial regulator is investigating trades in Oakbay Resources and Energy Ltd., a company linked to the politically connected Gupta family, to determine whether share prices were manipulated over a five-month period. The Financial Services Board will probe share moves from when Oakbay listed in November 2014 through April 2015, the Pretoria-based institution said in an emailed statement on Tuesday. The stock rose almost 11 percent over that…
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