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Announcement link: https://www.gate.com/announcements/article/47104 - 🌕 Gate Square · Mid-Autumn Creator Incentive Program is Now Live!
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OSL Announcement: Crown Reseach, controlled by Liu Shuai, has subscribed for over 700 million HKD in newly issued shares.
ChainCatcher news, Hong Kong digital asset exchange OSL announced that Crown Research, wholly owned by Liu Shuai, has signed a subscription agreement with OSL to subscribe for up to 47,518,000 new shares at HKD 14.9 per share, raising total proceeds of over HKD 700 million. Upon completion of the subscription, Crown Research will hold 29.951% of OSL's shares. As of today's close, OSL's share price is HKD 15.1, with a total market capitalization of HKD 11.18 billion. OSL also stated that 50% of the proceeds will be used for strategic acquisitions. Previously, in June, OSL announced plans to acquire the Web3 payment solution Banxa. 30% of the proceeds will be allocated for stablecoin issuance and payment services.