Hong Kong-based digital asset exchange group OSL has completed a US$300 million equity financing round, marking the largest publicly disclosed equity raise in Asia’s institutional digital assets sector. The capital injection will fund the regulated platform’s global expansion strategy and development of payment infrastructure targeting enterprise clients.
The financing round saw shares issued at HKD 14.90 ($1.94), representing a discount to the HKD 17.60 ($2.29) closing price. The issuance accounts for 16.14% of existing share capital, or 13.9% following completion. Notably, 30% of the shares were acquired by BGX, an insider that previously invested $90 million for nearly 30% of the company in 2023. BGX, owned by Chinese national Liu Shuai, also controls crypto exchange Bitget and holds majority voting control in Cayman-registered OSL.
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