OSL acquires European digital asset and blockchain platform business

OSL Group announced the acquisition of European digital asset and blockchain platform businesses for a total price of $16.999 million (HKD 132.3 million). The company will acquire the new target company for a price of $6.999 million (approximately HKD 54.5 million), of which $4.899 million (approximately HKD 38.2 million) will be paid in cash, and the remaining $2.1 million (approximately HKD 16.3 million) will be paid through the issuance of 200.32 million shares at a price of $8.156 per share, a discount of 0.29% compared to yesterday's closing price of $8.18 per share. In addition, the company will acquire the Italian target company Saintpay SRL for a price of $10 million (approximately HKD 77.8 million). The two agreements are not mutually exclusive.

After the completion of the restructuring, the new target company will directly or indirectly hold all the issued shares of its subsidiaries, including Lithuania's Multi Exchange UAB and MTrinity UAB, Hong Kong subsidiaries, and Canadian subsidiaries. Multi Exchange UAB is mainly engaged in digital asset and blockchain platform businesses. The Italian target company mainly provides virtual currency and digital investment portfolio services and holds the wholly-owned subsidiary Saint Pay HK.

OSL stated that the acquisition is a key strategic investment for the group, aiming not only to enhance its market position in the Asia-Pacific region but also to enter the European market.