Surve’s suggested valuation for Sagarmatha shot down by PIC | Business | M&G

📆 2019/07/24 15:57:00
📰 mailandguardian

⏱ Reading Time:
26 sec. here
2 min. at publisher
📊 Quality Score:
News: 14%
Publisher: 92%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The PIC invested close to R2-billion in the Independent Media Group but it did not invest in Sagarmatha Technologies, according to the state asset manager’s former CEO, Dan Matjila.

Matjila’s testimony on Wednesday to the commission probing alleged impropriety at Africa’s largest asset manager, focused on the PIC’s transactions with companies in the Sekunjalo Group , which have come under the spotlight in recent years.

Matjila says there were various proposals regarding the listing price of Sagarmatha, including from Survé who suggested issuing a R1 strike option to the PIC in order to bring down the average entry share price closer to the R7,06 per share, as per the valuation by the PIC’s investment team. The former chief executive told the commission that contrary to media reports, his close personal relationship with businessman Iqbal Survé did not influence the PIC’s transactions with Sekunjalo.

Write Comment

Neither are worth anything!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Eskom set to receive a fast-tracked R59bn in the coming two years | Business | M&GRidiculous. The number of homes that could've been built with that money. Appalling mismanagement by government Whose milking eskom, I'm quite sure it is not the Guptas Soweto owes eskom billions
Source: mailandguardian - 🏆 2. / 92 Read more »