6th Mar 2026 10:33
(Alliance News) - Anemoi International Ltd shares burst higher on Friday, after the company noted a partnership announcement from the company it is set to buy via a reverse takeover.
Anemoi is the holding company of wholly owned subsidiary ID4 AG. Its shares were up 46% to 1.83 pence on Friday morning in London, having already multiplied over the past year. The stock earlier hit an intraday high of 2.90p.
Back in December, Anemoi agreed on a reverse takeover of Sym Technologies Holding Ltd, also known as Trasna, for a total price tag of USD150 million. This will be paid entirely in new Anemoi shares, priced at 2p each.
Trasna specialises in eSIM secure provisioning technology. At the end of February, it outlined an expanded collaboration with Cambridge, England-based peer Kigen.
The joint venture covers eSIM services and data management, including over-the-air subscriptions and device management, Trasna explained. It will run from servers in Dublin and Dubai, "helping enterprises simplify mass-scale [internet of things] with a focus on security, efficiency, and automation," the firm continued.
Trasna Chief Executive Stephane Fund commented: "Our expanded collaboration with Kigen reflects the scale and maturity the IoT market now demands...We are combining proven server expertise, geo-redundant operations and deep lifecycle management capabilities to deliver a trusted, enterprise-grade eSIM managed service that simplifies global IoT at scale."
Anemoi Chair Duncan Soukup called both Trasna and Kigen "market leaders in their own right", adding: "This collaboration provides the potential to accelerate their penetration in the high growth global eSIM market.
"It is our understanding that Trasna hopes to compete for up to 10% to 15% of the eSIM market, estimated to amount to USD5.8 billion by 2030, which has the potential to represent a very substantial annual revenue opportunity for the Company over the medium to long term."
Upon completion of the reverse takeover, Anemoi plans to apply for readmission to the Equity Shares (Commercial Companies) category of the London Stock Exchange and to change its name to Trasna Ltd. The deal remains subject to the transfer of all operating Trasna group entities into Trasna (Abu Dhabi), completion of due diligence and a fundraise.
By Holly Munks, Alliance News reporter
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