AYO Technology, previously Sekunjalo Technology Solutions, is to list on the JSE with effect from Thursday, 21 December 2017, under the share code AYO.
The company will be listed in the “Computer Services” sector of the main board of the JSE.
To provide AYO Technology with additional capital to fund its further expansion, the company expects to raise R4.3 billion through a private placement involving an offer to invited investors to subscribe for up to 99,782,655 ordinary no par value shares at R43.00 per share.
AYO Technology, through its divisions, subsidiaries and partners provides solutions to both the public and private sector within South Africa and abroad, with its private sector client base comprising mostly blue-chip multinationals.
The group said it maintains strong relationships and holds key value-added reseller or supplier agreements with principles such as Nokia Siemens Networks South Africa, InterSystems Corporation,
Cisco Systems, Microsoft Corporation, IBM and Riverbed Technology, which provides the group with continuous access to up to date technology.
It also has a strategic relationship with BT Communications Services South Africa.