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Fragrant Prosperity Holdings Ltd on Wednesday said it is looking to 2026 with a ‘sense of optimism’, as it posted an improved cash position and praised the quality of the acquisition targets which which it has held talks. Fragrant Prosperity is a British Virgin Islands-based special purpose acquisition company. The Spac reported a pretax loss of £357,121 for the six months to September 30, widening from £90,503 a year earlier. Driving this, administrative expenses more than doubled to £189,247 from £74,92, and share-based payment charges surged to £153,760 from nothing. It has no revenue. The company reported an improved cash balance of £599,702 as at September 30, multiplying from £67,879 at March 31, thanks to raising £1 million in additional funding during the half year. Fragrant Prosperity said it continued to search potential targets throughout the interim period. It added that despite the ‘subdued’ economic climate, which it attributes to ‘macro and government policy factors’, its directors are optimistic regarding the quality of potential acquisition targets. Its shares were up 0.7% at 0.73 pence on Wednesday morning in London. The stock started 2025 at 0.43p and twice hit 1.68p before retreating again. Chair Simon Retter said: ‘The recent reforms to the listing rules have created a bit more optimism amongst companies looking to pursue a main market listing on the LSE and certain sectors including fintech remain buoyant. We look forward to starting 2026 with a sense of optimism and are hopeful of the prospects that lay ahead for the company.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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