Shares in Sealand Capital Galaxy Ltd (LSE:SCGL) rose 20% to 0.27p after the London-listed company agreed to pay £6.6 million for a Hong Kong consultancy whose audited accounts show gross assets of about £14,000.
Brilliant Glow Group generated revenue of roughly £89,000 in the year to 31 December 2025 and profit before tax of about £12,300, according to the announcement.
Net assets stood at around £6,300.
Sealand said the rationale rested on the target's consulting capabilities, client relationships and existing contracts rather than historic earnings.
Founded in 2020, Brilliant Glow advises small and medium-sized businesses across Asia Pacific through a Shenzhen subsidiary, with a team of roughly 10 professionals covering technology, legal, accounting and consulting work.
It is party to six cross-border consulting agreements covering market entry, commercial strategy and capital markets advice.
A refundable deposit of £1.98 million was paid to the seller in March under a non-binding letter of intent, before due diligence began.
The remaining £4.62 million falls due no later than the first anniversary of completion, and Sealand may settle it in cash or by issuing new shares at its own discretion.
Any share issue would dilute existing holders.
The seller has committed to either cumulative operating revenue of at least £2 million over two years, or full realisation of equity awards in clients' shares under contracts listed in the agreement.
If neither is met, Sealand can require the seller to buy the business back at 110% of the consideration actually paid.
Completion remains conditional on confirmatory due diligence.
Chief executive Siqi Cao said the deal was consistent with building a more scalable and diversified business.
No forecast of future revenue or earnings was provided.
