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Fiinu PLC - Weybridge, Surrey financial technology provider - Shares resume trading on AIM in London on Wednesday after Fiinu completes its reverse takeover of Everfex PSA. Trading had been suspended since August 7. After the London market close the day before, Fiinu had announced the deal to buy Everfex for £12.0 million. Of this, an initial £8.0 million was paid in shares, with the issue of 80.0 million new shares at 10 pence each. The remainder will be paid in 2026 with 20.0 million new shares issued at 20p. Fiinu at the time also announced a subscription agreement for 8.0 million new shares at 10p to raise £801,000.
Everfex is a foreign exchange brokerage formed at the start of 2025 from the assets of Sta?y Kurs sp zoo in Poland. It was founded in 2019 to provide currency hedging solutions. Fiinu surrendered its banking licence to the UK Prudential Regulation Authority back in 2023 and now is focused on the core banking technology that it retained. Its flagship product is its ’Plugin Overdraft’ platform that offers consumers overdraft credit solutions that integrate directly into their existing banking application. Fiinu also plans to offer ’banking-as-a-service’ applications to third-party financial institutions.
Current stock price: 18.66 pence, up 31%
12-month change: up from 0.88p
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