The shares have a net book value of £892,000, which "may increase in value" subject to being listed on a stock exchange, according to the administrators. Robinhood: acquisition attempt "Failure to secure a buyer" was cited as another primary cause of Ziglu's financial distress. The proposal claimed that a 2022 uncompleted acquisition attempt by an "independent third party" resulted in a £4.4 million loss in 2023. In its statement published in April 2022, US-based trading platform Robinhood signed an agreement to acquire Ziglu. While the total value of the deal was not disclosed, the firm was valued at £85 million, said CNBC. According to the proposal, Ziglu faced increased operational costs as it undertook a "strategic review" of the business in response to the failed acquisition. In the statement, Robinhood said: "Ziglu customers earn yield via its 'Boost' products, pay using a debit card, and move and spend money, even abroad, without fees.