PIC ‘pressured over Ayo’s listing date’ despite being sole investor, probe told
But former boss Dan Matjila denies influencing anyone to make specific recommendations, including about the valuation of the company
24 July 2019 - 21:29
Although the Public Investment Corporation (PIC) was the only investor to buy shares in Ayo Technology Solutions when the company listed on the JSE in December 2017, the investment manager appeared to have no influence on the date of the listing.
According to the testimony of Victor Seanie at a commission of inquiry into the PIC’s affairs, the PIC’s analyst responsible for assessing the value of the Ayo shares, this put the teams under enormous pressure to meet the December 15 deadline. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.