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Honye Financial Services Ltd ( (GB:HOYE) ) has provided an update.
Honye Financial Services Ltd reported a loss of £439,290 for the year ending July 31, 2024, primarily due to administrative expenses and due diligence costs related to prospective acquisitions. The company is progressing with a Reverse Take Over (RTO) of Zoyo Capital Limited, despite delays caused by investor holdups. To support the RTO and operational costs, Honye has secured significant investments, including a £1 million investment from Mr. Abdullah Alnuwaysir and a £2.5 million subscription agreement with Mr. Weng Jianxiong. These investments are expected to provide the necessary capital to complete the RTO and maintain operations over the next 12 months.
More about Honye Financial Services Ltd
Honye Financial Services Ltd is a special purpose acquisition company (SPAC) focused on acquiring businesses in the financial services and fintech sectors, primarily in Europe and Asia. The company aims to generate shareholder returns through acquisitions, capital raising, and operational improvements, with a particular interest in expanding in the Asian market.
Average Trading Volume: 5,728
Technical Sentiment Signal: Buy
Current Market Cap: £11.1M
Learn more about HOYE stock on TipRanks’ Stock Analysis page.
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