BC Technology Group Enters Into Agreement to Raise HKD697 Million in Share Placement, with Morgan Stanley Appointed as Sole Placing Agent

Hong Kong – 6 January 2021 – BC Technology Group (stock code: 863 HK), Asia’s leading public technology and digital asset company, is pleased to announce that it has entered into an agreement to raise HKD697 million (approximately USD90 million) in a top-up share placement, with Morgan Stanley appointed as the sole placing agent, and participation from a strong roster of institutional investors.

With completion of the placement, the Group will continue to expand the reach and capability of its leading institutional digital asset platform OSL, which provides prime brokerage, custody, exchange and software-as-a-service (SaaS) to institutions and professional investors. The transaction further affirms the Group’s institutional-focused strategy, positioning it to lead the digital asset trading market globally.

“The digital asset market experienced a significant shift in 2020, with regulatory clarity and institutional investment driving market capitalization to new all-time highs,” said OSL CEO Wayne Trench. “With the participation of established institutional investors in this placement, we are seeing more evidence that digital assets are attracting significant attention from major traditional finance brands and we believe this will continue to accelerate going forward. The market will continue to grow in the coming months and years and we are excited to be on the front line of the development of this industry.” 

BC Group’s OSL Digital Securities was the first to apply for and be granted a license for Type 1 (dealing in securities) and 7 (providing automated trading services) regulated activities specific to digital assets under the Hong Kong Securities and Futures Commission’s (SFC) regulatory regime, and boasts a large roster of institutional clients. In December 2020, the Group also announced that it is providing technology services to DBS Bank. 

“The placement is a major milestone and the next step in the rapid growth of the Group’s OSL digital asset platform,” continued Trench. “It allows us to invest in the tools to reach more institutional customers around the globe while also continuing to scale our SaaS solution.”