Hong Kong crypto firm OSL to raise HK$2.3 billion from share sale at 15pc discount

OSL Group (0863) has announced a share sale plan to raise nearly HK$2.36 billion at a 15 percent discount. 

The local crypto trading platform plans to sell 13.9 percent of its enlarged shares for HK$14.9 apiece, about 15.34 percent lower than its closing price on Thursday, according to a filing on Friday. 

The company intends to use half of the net proceeds for strategic acquisition, 30 percent for the developments of payment and stablecoin initiatives, and the rest for general corporate purposes.

Its shares slumped by more than 7 percent following the announcement.