Ikigai Ventures Ltd on Tuesday said it continued aiming to buy dynamic high-growth businesses, as its annual loss narrowed.
The special purpose acquisition company focused on Asia and Europe said pretax loss narrowed to £482,708 in the financial year ended June 30 from £642,325 a year ago.
Notably, legal and professional fees decreased by 34% to £252,503 from £382,563.
The company said: ‘Since late April 2024, the board has been exploring further potential targets in the UK, Europe, and Asia-Pacific. Although discussions are progressing, we have not yet finalised any agreements. If we are unable to reach an appropriate deal with one of the companies being reviewed, we will continue our search for a suitable acquisition target. Updates will be announced as appropriate.’
Looking ahead, Ikigai said: ‘The company aims to acquire dynamic, high-growth businesses in sectors such as healthcare, finance, agriculture, mining, and artificial intelligence, with a focus on strong environmental, social & governance credentials. While not restricted to any specific region, the directors anticipate acquiring a company based primarily in the UK, EU, or Asia-Pacific.’
Ikigai shares were down 3.2% at 45.00 pence each on Tuesday afternoon in London.
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