Summary
- It was reported that OSL Group plans to acquire a 90% stake in Indonesia's virtual asset exchange operator, Evergreen Crest Holdings, for $15 million.
- It was announced that the acquisition amount is expected to be paid through a new share issuance.
- The purpose of OSL Group's acquisition is assessed as obtaining a virtual asset business license in Indonesia.
Hong Kong digital asset company OSL Group is expanding into Indonesia.
According to Jitong Finance on the 3rd (local time), OSL Group plans to acquire a 90% stake in the Indonesia-based virtual asset (cryptocurrency) exchange operator Evergreen Crest Holdings for $15 million. The acquisition amount is expected to be paid through a new share issuance.
Meanwhile, the purpose of OSL Group's acquisition is evaluated as obtaining a virtual asset business license in Indonesia. Evergreen Crest Holdings will become a subsidiary of OSL Group immediately after the acquisition, and OSL Group will be able to acquire the Indonesian virtual asset business license held by Evergreen Crest Holdings.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
