MOH Nippon plc spiked 89% following a reverse merger into Bowen Fintech PLC (LSE:BWN) that saw the services provider for real estate investment in Japan enter the main market of the London Stock Exchange on Monday.
Aamir Quraishi, non-executive chairman of MOH, said: "As a special purpose acquisition company, we were delighted to succeed during the year in identifying, in MOH, an excellent target for acquisition and to enter an agreement where the offer price represented a 25% premium to our prevailing share price.
“We are also particularly proud to have become the first company with its business and operations in Japan to list equity on the Main Market of the London Stock Exchange in over 20 years.
“This is a very exciting time and we look forward to updating the market on our progress in due course."
For the year ended 31 March 2023, MOH reported an operating profit of 731 million Japanese yen (around £3.8 million) on revenues of 5.6 billion yen (£29.3 million).