The JSE says it had enough time to look at all the facts when it made its pre-listing assessment of the Iqbal Survé-linked companies Ayo Technology Solutions and Sagarmatha Technologies.
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Ayo Technology Solutions allegedly rushed the listing process due to fears that it would not be able to secure funds from the PIC after the ANC elected a new leader at its December conference.
The Public Investment Corp breached policy when it agreed to invest in a local technology company before the deal had received the necessary approvals.
The Public Investment Corp, Africa’s biggest money manager, said it has suspended two employees after an investigation into a transaction with Ayo Technology Solutions.
The Public Investment Corp is looking into how Africa’s biggest money manager decided to spend R4.3bn to back last year’s initial public offering of IT company Ayo Technology Solutions. The PIC, which manages