Honye Financial Services to Acquire Zoyo Capital in £26M All-Share Deal

Honye Financial Services has announced that it has entered into conditional majority and minority share sale and purchase agreements to acquire the entire issued share capital of Zoyo Capital Limited. The deal, valued at £26 million, will be fully settled through the issuance of new ordinary shares in Honye at a price of £0.23 per share.

Upon completion, Honye will issue approximately 113,043,478 new ordinary shares to Zoyo’s shareholders. These “Consideration Shares” will represent around 76% of Honye’s enlarged share capital, effectively transferring control of the company to the Zoyo stakeholders.

Completion of the acquisition is subject to several conditions, including the admission of the Consideration Shares to the Equity Shares (Transition) Category of the Official List of the Financial Conduct Authority (FCA), and their listing on the Main Market of the London Stock Exchange.

Honye Financial Services to Acquire Zoyo Capital in £26M All-Share Deal

Zoyo Capital is in London, is a FinTech enterprise for building a digital trading infrastructure. The Zoyo app is going to enable High Net-Worth Individuals (HNWIs) to trade equities across global stock markets.

Post-acquisition, the strategic focus of the combined group will be twofold: firstly, to offer a white-labelled digital securities brokerage service to HNWIs via the Zoyo app; and secondly, to advance development of a proprietary, FCA-regulated mobile-native trading platform, expected to launch in Q1 2027.

In addition to brokerage services, the Enlarged Group also intends to monetize Zoyo’s KYC/AML onboarding technology through B2B sales and licensing agreements with companies needing regulatory compliance tools.

The acquisition constitutes a Reverse Takeover under UK Listing Rules. Consequently, Honye’s shares remain suspended from trading pending either FCA approval of a new prospectus or a formal announcement that the transaction will not proceed.

So, this acquisition marks a significant strategic shift for Honye as it positions itself within the digital finance and securities trading space.

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