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OSL Group Plans to Raise Approximately HK$2.355 Billion through a Rights Issue for Strategic Acquisitions, Stablecoin Business, etc.
By: theblockbeats.news|2025/07/25 08:52:13
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BlockBeats News, July 25th, OSL Group announced on the Hong Kong Stock Exchange that on July 25, 2025 (before the trading session), the company had entered into a placing and subscription agreement, a general mandate subscription agreement, and a specific mandate subscription agreement. The total estimated proceeds from the transactions under these agreements are approximately 23.5503 billion Hong Kong dollars, with an estimated net proceeds of approximately 23.3610 billion Hong Kong dollars. The placing price is HKD 14.90 per placing share, representing a discount of approximately 15.34% to the closing market price of the shares on the last trading day on the Stock Exchange of Hong Kong.
The company intends to use the total net proceeds for the following purposes: approximately 50% for supporting the company's strategic acquisition initiatives; approximately 30% for the development of global business and new business initiatives (including payment and stablecoin initiatives); and approximately 20% for the group's general corporate purposes.
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