De La Rue Drops as Corruption Probe Sparks Investor Discontent
- Serious Fraud Office investigates firm over South Sudan bills
- Banknote printer says it can’t predict the effect of the probe
This article is for subscribers only.
De La Rue Plc, the more than 200-year-old banknote and passport printer, is being investigated by U.K. prosecutors over allegations related to corruption in South Sudan, prompting a 16% fall in its share price and demands for executive bonuses to be clawed back.
In a statement on Tuesday, the company said it intends to cooperate with the Serious Fraud Office but couldn’t predict the effect of the probe at such an early stage. The prosecutor confirmed the investigation, saying that it will also look into "associated persons." The shares slumped as much as 17% in London trading to their lowest since October 1998.