Honye Financial Services Reports Acquisition Delays

Honye Financial Services Ltd (GB:HOYE) has released an update.

Honye Financial Services Ltd, a SPAC targeting acquisitions in the fintech sector, has reported its audited final results for the year ended 31 January 2024, with significant delays in its anticipated acquisition of Zoyo Capital Limited due to the pandemic. To cover the acquisition-related expenses and operational overhead, a loan agreement for £275k with Tang Investment No 1 Ltd was signed, as the company seeks additional funds to complete the acquisition. Despite these challenges, Honye remains focused on its investment strategy and maintaining low running costs.

For further insights into GB:HOYE stock, check out TipRanks’ Stock Analysis page.