Baker McKenzie advised OSL Group Limited (formerly known as BC Technology Group Limited) ("OSL Group")  (Stock code: 863) -- the parent company of OSL Digital Securities (the first SFC-licensed digital asset platform) and Hong Kong’s only publicly listed company fully dedicated to digital assets -- in connection with the issuance of 187.6 million new shares under specific mandate to BGX Group Holding Limited, a progressive leader in cryptocurrency services, raising a total of approximately HKD713 million. 

Net proceeds from the subscription are intended to be used by OSL Group in potential merger and acquisition opportunities of companies engaged in the digital assets and blockchain platform business, and also to develop and enhance platform technology of its digital assets platform business, as well as for working capital.

The Baker McKenzie team was led by Capital Markets Partner Christina Lee, with support from Special Counsel Bonnie Lau and Associates George Lam and Anthea Yu.

Commenting on the deal, Christina said: "We are very pleased to have been able to assist OSL Group on this important transaction, which marks a new milestone in the company’s continued pursuit of growth and innovation in the digital asset space. We look forward to continuing to assist our client with their legal needs as they continue to set new standards in digital asset security, compliance, and technological innovation.”

"As we embark on this exhilarating journey at OSL, our vision is not only to navigate the evolving landscape of digital assets but to redefine it. Together, we are poised to break new ground, elevating our services to unprecedented levels and establishing OSL as the epitome of regulated digital asset platforms. We are more than ready to lead this dynamic industry into a future where excellence, reliability, and cutting-edge solutions are not just goals, but our standard," Patrick Pan, CEO of OSL, addressed.

Baker McKenzie is one of the leading firms for complex transactions, providing strategic advice on deals involving the world's leading financial institutions and multinational companies. The Firm regularly advises target companies, offerors, selling shareholders and financial advisers on the acquisition and disposal of companies listed on stock exchanges in key major financial centers, as well as issuers on their proposed listing and fundraising activities in different jurisdictions. 

With many of its lawyers enjoying established working relationships with local regulators in Hong Kong and other key markets, the Firm is able to guide clients through all stages of the process, providing valuable insights on regulatory developments that could impact the value and feasibility of cross-border transactions, as well as on ongoing compliance issues. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades. Moreover, the team has extensive experience in advising clients on cross-border capital fundraising under different schemes, including the Shanghai-London Stock Connect and the China-Switzerland Stock Connect.
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