Baker McKenzie has advised BC Technology Group ("BC Group"), on its HKD 697 million top-up share placement.
BC Technology Group is Asia's leading public fintech and digital asset company. It is the parent company of OSL, the world's first and only insured and SFC-licensed digital asset platform, which provides prime brokerage, custody, exchange and software-as-a-service (SaaS) to institutional clients and professional investors.
With the completion of the placement, BC Group will continue to expand the reach and capability of its leading institutional digital asset platform OSL.
BC Group's wholly-owned subsidiary, 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.
The Baker McKenzie team for the top-up placing transaction was led by Partner Christina Lee, with support from Special Counsels Brian Wong and Rachel Wang, and Associate Stephanie Mak, all based in Hong Kong.
Commenting on the transaction, Christina Lee, said: "The top-up placing marks another milestone in BC Group's growth story, and will provide the company with new capital as it strives to be the leader in the digital asset trading market globally." She added: "We are delighted to have been able to assist our client on this strategic transaction."
Morgan Stanley acts as the sole placing agent in the top-up placing.