Fidelity buys BC stake but SFC license is the prize
Why has Fidelity taken a stake in BC Group, the crypto holding company behind trading platform OSL?
Fidelity International, the London-based ex-North America arm of the Fidelity financial empire, has acquired a HK$1105 million ($14.2 million) stake in BC Technology Group.
The stake was taken during a January share placement by BC Group, which is listed on the Hong Kong Stock Exchange. Fidelity accounted for nearly half of a total of $36 million raised by BC. In the process, Fidelity ended up with a 5.6% stake in the company, buying 17 million shares at HK$6.5 per share.
Bloomberg broke the news on Friday, February 21.
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