OSL Announcement: Liu Shuai Holdings' Crown Research subscribes for over HKD 700 million in new shares

ChainCatcher news, Hong Kong digital asset exchange OSL announced that Crown Research, wholly owned by Liu Shuai, has signed a subscription agreement with OSL to subscribe for up to 47,518,000 new shares at a price of HKD 14.9 per share, raising a total of over HKD 700 million. Upon completion of the subscription, Crown Research will hold 29.951% of OSL's shares. As of today's close, OSL's stock price is HKD 15.1, with a total market capitalization of HKD 11.18 billion.

OSL also stated that 50% of the proceeds will be used for strategic acquisitions. Previously, in June, OSL announced plans to acquire the Web3 payment solution Banxa. 30% of the proceeds will be used for stablecoin issuance and payment services.