Originally appeared on South China Morning Post
BC Technology Group, owner of the licensed Hong Kong cryptocurrency exchange OSL, received a HK$710 million (US$90.9 million) investment from BGX.
BGX has entered into an agreement to subscribe for shares in BC Technology, giving it a 29.97 per cent stake in the company, BC announced in a statement on Tuesday. The sale, which is pending shareholder approval, will make BGX the largest shareholder in the Hong Kong-listed firm, according to a BC filing to the Hong Kong stock exchange.
As part of the investment into BC Technology, BGX CEO Patrick Pan Zhiyong has been nominated as one of two new executive directors.