The share price of black-controlled African Empowerment Equity Investments (AEEI) soared on Friday on news that the group will list its technology arm on the JSE in 2018. This will be the second "spin-off" listing for AEEI. In March, it separately listed Premier Fishing and Brands (Premfish), which has a market capitalisation of more than R1bn. On Friday, AEEI said that the board of directors had approved a proposal to list its technology subsidiary, AYO Technology Solutions, "subject to market conditions". AEEI shares finished more than 12% higher at 434c — although only 240,000 shares changed hands. The shares are fairly illiquid, with empowerment tycoon Iqbal Survé holding more than 60% of the shares and investment company Miramare another 11%. AEEI CEO Khalid Abdulla said AYO could list within three to six months but he cautioned that certain permutations around possible deals might result in a listing only in the second half of 2018. The CEO was reluctant to be drawn on details...
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