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Fidelity International acquires stake in OSL

by Karin Chang

2 months ago

Fidelity International has acquired a US$ 14.2m stake in the operator of OSL, one of Asia’s largest digital asset platforms for institutional and individual investors.

The investment firm acquired 17 million shares of BC Technology Group Ltd. for an average price per share of HK$ 6.50 (US$ 0.83) as of 12 February, according to a filing at the Hong Kong stock exchange. Fidelity became a substantial shareholder with a 5.6% position.

The investment was part of a larger US$ 36m share placement by BC Group at the end of January 2020. BC Group shares have slipped 7.6% so far this year.

In an email reply, Hugh Madden, CEO of BC Group said “We’re excited to see that world-class equity investors are increasingly participating in the fast-growing digital asset sector and we look forward to reaching new milestones with our industry-leading institutional investors.” 

Fidelity International was founded in 1969 and originally served as an investment subsidiary to Boston based financial giant, Fidelity Investments, before spinning off as an independent entity in the 1980s. 

 

(Source: Bloomberg)

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