Crypto exchange OSL operator completes stock top-up to raise $90 million

BC Group, the Hong Kong listed company that operates the crypto exchange OSL, has completed the issuance of new stocks.

In a public disclosure on Wednesday, BC Group said it issued 45 million new shares at a subscription price of HK$15.5 on January 13, which in total is worth HK$697 million, or $90 million.

The transaction follows an announcement made by BC Group on January 6 where the firm said it entered an agreement with a stock placing agent in order to issue the 45 million new shares.

BC Group said it plans to use the net proceeds from the raise to maintain and expand OSL's trading platform and digital asset services.

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