Advisory firm Zico Holdings says it has been "approached" in relation to a potential transaction of shares in "certain" subsidiaries.

The June 19 announcement was made after market closed for the day. Zico shares closed at 5 cents for the day, up 19.05%.

"Shareholders and any other investors should note that there is no certainty or assurance that any specific or definitive transaction will eventually materialise or be carried out as a result of such approach.

"If and when there is any material development, the Company will make an announcement at the appropriate time."

Zico operates across various southeast Asian markets and via various subsidiaries, provides advisory and transactional services, as well as wealth management and corporate finance services, among others.

For the year ended Dec 31 2024, Zico reported a loss of $5.6 million, versus red ink of $7.3 million in the preceding year. Revenue remained steady at around $17.2 million.

Following the FY2024 earnings announcement, the company raised $2 million via a convertible loan from a group of investors carrying an interest rate of 8% per year.