AYO Technology Shares Jump 20% as Sekunjalo Moves to Take Company Private

Shares in AYO Technology Solutions soared by 20% on Friday after Sekunjalo Investment Holdings announced a firm offer to acquire all remaining ordinary shares in the company and take it private. The move signals a strategic shift for South Africa’s largest black-owned ICT investment group, which Sekunjalo says is better positioned for growth outside of the public markets.

Taking AYO Private: Sekunjalo’s Vision

Sekunjalo, already AYO’s majority shareholder with a 45% stake, confirmed its intention to buy out the rest of the shareholders and delist AYO from the Johannesburg Stock Exchange (JSE). The buyout proposal includes an offer to purchase up to 155 million shares for a maximum total of R80.8 million.

The decision to go private, Sekunjalo said, is rooted in a desire to free AYO from the operational and reputational burdens of being listed, including high compliance costs and ongoing scrutiny, which the company claims has impeded its potential.

“We want to give shareholders a choice – to exit with liquidity or stay with us on a new journey,” Sekunjalo said in a statement. “AYO will be more agile and better able to innovate as a private company.”

Share Price Reacts to Confidence in the Future

The market responded positively to the news. AYO’s share price jumped 8 cents to 48 cents by midday Friday, reflecting growing investor optimism around Sekunjalo’s plan to streamline operations and accelerate AYO’s tech strategy outside the glare of public markets.

Sekunjalo also pointed to its track record with companies like Premier Fishing and African Equity Empowerment Investments, which it says have thrived post-delisting.

“AYO deserves the same opportunity. Freed from the constraints of being listed, we believe the company can truly shine.”

Delisting Justified by Cost, Flexibility and Strategy

Sekunjalo highlighted three core reasons for the delisting:

• The high cost of maintaining a JSE listing;

• Regulatory barriers that hinder fast decision-making;

• Ongoing negative public narratives that have hurt the company’s reputation and growth prospects.

With a diversified portfolio of tech businesses under AYO’s banner, Sekunjalo believes the move will empower the group to scale up innovation, boost transformation, and play a stronger role in South Africa’s digital economy.

Independent Board to Oversee Fairness

In line with takeover regulations, AYO has set up an independent board—comprising Rosemary Mosia, Sello Rasethaba, and Advocate Ngoako Ramathlodi—to evaluate the fairness and terms of the buyout offer.

The board will guide shareholders ahead of the General Meeting, where at least 75% approval will be needed to greenlight the delisting.

{Source: IOL}

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