Browsing: PIC

Ayo valuation ‘stretched’ to meet Survé’s demands

“Stretched”, “thumb-suck” and “manipulation” were among the words used at the judicial commission of inquiry into the Public Investment Corp to describe the informal pre-listing valuation carried out by Ayo Technology Solutions executives.

PIC board quits as scandals mount

The Public Investment Corp’s board of directors offered to resign amid an inquiry into allegations of wrongdoing, throwing the South African manager of more than R2-trillion deeper into crisis.

PIC raises its stake in MTN to 26%

The Public Investment Corp has raised its stake in MTN Group for the second time in as many days, taking advantage of a price that’s close to 10-year lows amid a crisis in Nigeria.

PIC buys 25% of ZAR X

The Public Investment Corp, which invests pension money on behalf of government workers, has acquired a 25% stake in new South African stock exchange ZAR X for an undisclosed sum. The PIC, which has assets

Government to sell Telkom shares, Gigaba says

Finance minister Malusi Gigaba said on Wednesday that government will sell a “portion” of its 39.3% stake in Telkom to ensure the fiscal expenditure ceiling is not breached. “We have decided to dispose of

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