OSL to Buy Indonesian Crypto Firm in HK$117.5 Million Share Deal; Shares Up 4%

OSL Group is set to issue over 9.26 million new shares to acquire a 90% stake in EvergreenCrest Holdings, which owns crypto and futures trading firms in Indonesia, according to a Hong Kong bourse filing on Monday. The shares will be issued at HK$12.68 each, valuing the deal at roughly HK$117.5 million. The new shares will represent about 1.46% of OSL's enlarged capital. The company said the deal marks its strategic entry into Indonesia's fast-growing digital asset market. Once completed, the stake will give OSL access to crypto spot and derivatives trading licenses through EvergreenCrest units Multikripto Exchange Indonesia and Langit Indonesia Berjangka. Shares of the crypto brokerage and exchange operator rose about 4% in Monday trading.