Hong Kong’s OSL Group raises US$300 million amid stablecoin anticipation
The licensed virtual-asset trading platform says it is the largest publicly disclosed equity raise in Asia’s digital-asset sector
It was the largest publicly disclosed equity raise in Asia’s digital-asset sector to date, the company said on Friday.
OSL’s major shareholder Crown Research Investments sold 101.19 million existing shares at HK$14.90 per share, a 15.34 per cent discount to the closing price on Thursday, according to a filing with the Hong Kong stock exchange. The same number of shares will be reissued to the seller at the same price through a top-up subscription.
The shares represent 16.14 per cent of OSL’s existing issued share capital and 13.9 per cent of the issued share capital as enlarged by the allotment and issue of the top-up shares.
The company’s Hong Kong-traded stock dropped 2.6 per cent to HK$17.14 on Friday.
OSL also issued 9.34 million new shares to two independent investors, WK Triangulum Investment and Brand Wisdom, which have agreed to subscribe to 2.63 million shares and 6.71 million shares, respectively.