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Investment by PIC into AYO remains viable | IOL Business Report

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PICInquiry: Investment by PIC into AYO remains viable busrep

PRETORIA – The investment by the Public Investment Corporation into AYO Technology Solutions Limited was a viable investment and remains a viable investment, the PIC Commission of Inquiry was told Tuesday.

The commission heard that the relationship between AYO and BT was premised on the fact that AYO planned to subscribe for 99 percent of the issued shares of Kilomax Investments, which holds 30 percent of the issued shares of BT, post the listing. The JSE also received five submissions from AYO, the first of which was submitted to the JSE on November 10, 2017.

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