Fintech firm Fiinu plc issued an official statement in response to the surge of its share price today.
The share price of the company saw a spike of over 40% on January 9, 2024.
The full statement by Fiinu can be found below:
“Fiinu, a fintech group, creator of the Plugin Overdraft®, notes the movement in its share price today and confirms that it is not aware of any material commercial or operational reason for the significant increase. The Company continues to engage with potential investors and it will make announcements accordingly.
As previously announced, the Board is maintaining its current strategy and its focus remains on raising the necessary capital to support Fiinu 2 Limited’s re-application for a UK banking licence with which to launch its Plugin Overdraft®. Given the steps taken to preserve existing funding, ahead of making the re-application in order to ensure the required level of technological and regulatory readiness for the business to re-initiate the process, a hiring process will need to be undertaken by the Board. It is not possible at this time to quantify the time period when this will happen”.
