PRETORIA – The JSE Listing in Sagarmatha technologies was scuppered by various players acting in bad faith.
This is according to Dr Iqbal Survé, the chairman of Sekunjalo Investment Holdings, which owns Sagarmatha and Ayo Technologies Limited (AYO) in his testimony at the Public Investment Corporation (PIC) Commission of Inquiry into impropriety, led by retired Judge Lex Mpati.
Survé believed that various entities such as, the Companies Intellectual and Properties Commission (CIPC) for reasons, which he believes were deceitful and were in bad faith, were part of the reason why the deal fell through.
“The CIPC raised obstacles to the listing. This unseated foreign investors and the listing on the JSE was not pursued. Sagarmatha has applied to the South African Reserve Bank for authorisation for the listing to be done abroad,” he said....
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