Fiinu has announced the proposed acquisition of foreign exchange brokerage Everfex P.S.A. in a transaction valued at up to £12 million. If completed, the deal will constitute a reverse takeover under AIM rules and is subject to shareholder approval.

Under the terms of the agreement, Fiinu will issue 80 million new ordinary shares to Granicus Holdings O.Ü, the sole owner of Everfex, at a price of 10 pence per share, equating to an initial consideration of £8 million.

An additional £4 million may be payable if Everfex meets certain performance targets after 1 January 2026. This further consideration would be settled via 20 million new Fiinu shares at 20 pence each. Fiinu also plans to raise approximately £800,000 through a conditional subscription of new shares.

Expect ongoing updates as this story evolves.

Source: Finance Magnates