OSL acquires European digital assets and blockchain platform business

OSL Group announced the acquisition of the European digital asset and blockchain platform business for a total consideration of US $16.999 million (HK $132.30 million), of which it will acquire the new target company for a consideration of US $6.999 million (approximately HK $54.5 million), US $4.899,000 (approximately HK $38.2 million) in cash, and US $2.1 million (approximately HK $16.3 million) by issuing 2.032 million consideration shares, the consideration stock issue price of 8.156 yuan per share, a discount of 0.29% from yesterday's closing price of 8.18 yuan; and the acquisition of the Italian target company Saintpay SRL for a consideration of US $10 million (approximately HK $77.8 million). The two agreements are not mutually conditional.
It is reported that after the completion of the pre-completion restructuring, the new target company will directly or indirectly hold the entire issued share capital of various subsidiaries, including Lithuanian Multi Exchange UAB and MTrinity UAB, Hong Kong subsidiaries, Canadian subsidiaries, Multi Exchange UAB is mainly engaged in digital assets and blockchain platform business. Italian target company is mainly engaged in the provision of virtual currency and digital portfolio services, and holds a wholly-owned subsidiary Saint Pay HK.
OSL stated that the acquisition is a key strategic investment for the group, with the aim of not only enhancing its market position in the Asia-Pacific region, but also entering the European market.