London, July 5, 2026, 16:07 BST
- Oberon’s Aquis market is shut on Sunday; its last reported trade was Friday at 2.02p for £9,840.27.
- The mid price sits at 2.05p, with a £16.40 million market cap and a 2.00p-2.10p quote.
- Management’s April revenue targets put the shares at about 1.4 times expected FY2026 revenue and about 1.17 times the next-year target, using the current market cap.
- The latest RNS on Investegate is a June 3 SIP/director dealing notice; no fresh Oberon RNS was shown for July 3-5 in the sources checked.
Oberon Investments Group plc AQSE:OBE goes into the new week with a valuation gap that is less about Friday’s price move and more about how little stock changed hands.
The boutique wealth manager and corporate broker was quoted at a 2.05p mid on Aquis, flat on the day, with a £16.40 million market value. The only July 3 trade shown by Aquis was 487,142 shares at 2.02p, worth £9,840.27. That was about 0.06% of the quoted market cap by value and about 0.06% of the 799.9 million tradable shares by volume.
Aquis is closed on Sunday. Its stock exchange hours are 8:00 to 16:30 on weekdays, and its 2026 calendar shows no England and Wales market holiday between Friday, July 3 and Monday, July 6.
| Market measure | Latest Oberon data | Read-through |
|---|---|---|
| Mid price | 2.05p | Flat on latest quote |
| Bid / ask | 2.00p / 2.10p | 4.9% spread on mid |
| Aquis year high / low | 4.30p / 1.90p | 52.3% below high; 7.9% above low |
| Last trade | 487,142 shares at 2.02p | £9,840.27 value |
| Market cap | £16.40 mln | Small-cap liquidity risk |
The price action leaves the market close to the low end of Aquis’s quoted one-year range even after Oberon told investors in April that revenue for the year ended March 31, 2026 was expected to rise more than 25% on a like-for-like basis to over £11.7 million. The company also said assets under administration were above £1.4 billion.
| Reference point | Figure | Implied by £16.40 mln market cap |
|---|---|---|
| FY2025 revenue | £9.36 mln | 1.75x revenue |
| FY2026 expected revenue | Over £11.7 mln | About 1.4x revenue |
| Next financial year target | Over £14 mln | About 1.17x revenue |
| AUA at April update | Over £1.4 bln | Market cap below 1.2% of AUA |
That is why the stock matters for investors even without a fresh price swing. On paper, Oberon is not being valued as a high-multiple wealth platform. The market is asking for proof that revenue growth can turn into cash flow, and for enough liquidity to make the quote more than a mark.
There is one catch in the April update. Oberon said it had agreed a voluntary requirement with the Financial Conduct Authority for its Wealth Management division. New wealth management clients and new investment managers need FCA permission while a review of systems and controls is completed. The company said the requirement did not affect existing clients and did not apply to Oberon Capital or Asset Management.
The most recent RNS item listed by Investegate was not a trading update. It was a June 3 SIP and director dealing notice. The trustees bought 234,263 partnership shares and 234,263 matching shares on May 29 at 2.1p, and directors Simon McGivern, Marcia Manarin and Adam Herringer took part. McGivern’s holding was listed at 40.7 million shares, or 5.09%.
Oberon’s last reported half-year accounts showed the other side of the trade. Revenue for the six months to Sept. 30, 2025 rose 13.6% to £5.429 million, but EBITDA loss before exceptional items widened to £1.094 million. Chief Executive Simon McGivern said in that statement that “The market is shifting rapidly” and called the operating-platform work the “real story” of the period. Investegate
For last week, the facts are thin: one reported Friday trade, no confirmed new RNS, and a quote still near the year low. For the week ahead, the test is whether Monday brings a tighter order book, a follow-up on the FCA requirement, or more detail on the April plan to bring in third-party equity research during the company’s second quarter.
