“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.
Browsing: PIC
Ayo Technology Solutions is at least partly an illegitimate business and has fabricated financial statements, according to Ayo’s former chief investment officer.
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.
The Public Investment Corp moved too quickly when it agreed to invest in Ayo Technology, a suspended employee said.
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 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.
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
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
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