Other share trades in the spotlight include those in Atlatsa Resources, Capitec, Fortress Income Fund, Greenbay Properties and Nepi Rockcastle
Ayo Technology Solutions is African Equity Empowerment Investments’ biggest investment. Picture: 123RF — GONGZSTUDIO
The Financial Sector Conduct Authority said in a report posted on its website on Monday that the “possible prohibited trading practices” happened between May 2018 and June 2018 in Ayo’s case and throughout 2018 in AEEI’s. Other share trades in the spotlight include those in Atlatsa Resources Corporation, Capitec, Fortress Income Fund, Greenbay Properties and Nepi Rockcastle.The illiquid stock, which the Public Investment Corporation controversially bought at R43 a share in December 2017, was trading at just R17 on Wednesday.
The CIPC argued that in making the investment, the PIC’s directors had knowingly caused harm to Africa’s largest asset manager.
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