Honye Financial to Acquire Fintech Firm Zoyo Capital in Reverse Takeover Deal

Honye Financial Services has agreed to acquire London-based fintech company Zoyo Capital Limited in a transaction valued at £26 million, marking a strategic pivot toward digital securities brokerage.

The acquisition, structured entirely through the issuance of new shares, will see Honye issue 113,043,478 ordinary shares to Zoyo's shareholders at £0.23 per share. Upon completion, these shares will represent around 76% of Honye's enlarged share capital.

The deal is contingent upon several regulatory approvals, including the admission of the new shares to the Equity Shares (Transition) Category of the FCA's Official List and the Main Market of the London Stock Exchange. Until then, Honye's shares will remain suspended from trading.

Founded in 2018, Zoyo Capital focuses on building infrastructure for a trading platform aimed at High Net-Worth Individuals (HNWIs). Its flagship product, the Zoyo branded app, is designed to facilitate equity trading on global stock markets. Following the acquisition, the combined group plans to operate initially under a white-labeled version of the app while pursuing direct FCA authorization for Zoyo's own platform, targeted for launch in the first quarter of 2027.

Additionally, the enlarged group aims to monetize its proprietary KYC and AML onboarding technology through licensing to other regulated businesses.

The acquisition qualifies as a Reverse Takeover under UK Listing Rules, requiring a full re-admission of the company's shares pending FCA approval of a new prospectus or confirmation that the deal will not proceed.